Ahmed borrowed OMR 666 for 2 years at a simple interest rate of 4.1% per year to purchase new machines for his company. Find the interest.
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Given:
Principal (P) = 6000 rupees
Rate of interest (R) = 10%
Time (T) = 1 year
Now, Interest = P×R×T100
=6000×10×1100=60000100
= 600 rupees
Hence, the interest for one year would be 600 rupees
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