kalam invested rs 3,000 for 1 year at 7℅ per annum. find the simple interesd and the amount received by him at the end of on year
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Answer:
Interest= Rs. 210, Amount= Rs.3210
Step-by-step explanation:
Principle(p)- Rs. 3000
Time period(t)- 1 Year
Rate of interest(r)- 7%
Therefore simple interest= (p*r*t)/100
= (3000*1*7)/100
= Rs. 210
Amount= Rs. (3000+210)= Rs. 3210
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