Question

find the simple interest of rs1000 kept for 2 years at 3% rate of interest​

Answer 1

Given, principle (P) = 1000 /-

Time (t) = 2 years.

Rate of interest (r) = 5 %

We know, simple interest =

100

P.t.r

∴S.I.=

100

100×2×5

=100/−

∴ Simple interest is Rs. 100

Answer 2

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