Find out the Capital required to earn a monthly interest of Rs.210 at 7% simple interest
(a) 36,000
(b) 20,000
(c) 1000
(d) 5000
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Answer:
Solution: Interest is 210 rs monthly so annual interest = 210* 12 = 2520 rs.
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Step-by-step explanation:
Find out the capital required to earn a monthly interest of Rs. 210 at 7% simple interest.
Interest is 210 rs monthly so annual interest = 210* 12 = 2520 rs.
Simple interest = Principal amount * Period * Rate / 100.
2520 is interest for 1 year.
Period = 1 year ; Rate = 7 % ; Interest = 2520 rs.
2520 = P * 1 * 7 / 100.
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