find the simple interset on rs 1000 for 10 years at a rate of 2% per annum
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Answer:
Formula for SI= PRT/100
Principal= 1000
Rate of Interest= 2%
Time= 10 years
= 1000×2×10/100
= 10×2×10 (after cutting the zeroes)
=20×10
= 200
The SI= 200 Rs
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