Find the simple interest charged on borrowing $325 for 5 years at 3% p.a. (per annum or per year) interest.
A) 59 B) 46 C) 48.75 D) 34.75
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Answer:
SI= P×R×T/100
= $ 325*5*3/100
=$ 4875/100
=$ 48.75
Option (C) is right answer.
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