Chiru deposit rupees 500 in a bank for 2 years at the rate of 10 per annum what is the amount he will receive as interest
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Answer:
100 rupees
Step-by-step explanation:
Given that,
Principal,P=500 rupees
time,n=2 years
rate of interest,r=10%
=10/100
& interest,I=?
We know,
I=Pnr
=500x2x10/100
=100 rupees
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