If P = 50,000, A= 2,00,000, T=5 years
then find the rate of interest.
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Answer:
The formula for calculating simple interest is:
(P x r x t) ÷ 100.
(P x r x t) ÷ (100 x 12)
FV = P x (1 + (r x t))
Example 1: If you invest Rs.50,000 in a fixed deposit account for a period of 1 year at an interest rate of 8%, then the simple interest earned will be:
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