imple interest ifP=
1,20,000, R=6%per annum and T=1year 7 months.
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Answer:
Principal = 1,20,000
Rate = 6 %
Time = 1 year
7 months
= 7/12 year
Time = 1 year + 7/12 year
Time = 1 year + 7/12 year = 19/12 year
Simple Interest
= Principal × Rate × Time / 100
= 1,20,000 × 6 × 19 / 12 × 100
= Rs. 8700
Simple Interest = Rs. 8700
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