If ₹10,000 becomes ₹15,500 in 2 years, find the simple interest.
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Answer:
The simple interest to the sum Rs. 15,000 for 2 years at a rate of interest 5% per annum is
S.I.=
100
PRT
⇒
100
15,000×2×5
=1,500.
The interest will be Rs. 1,500
and the amount at the end of 2 years.
=P+I=15000+1500= Rs. 16,500
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