Mathew deposited 15000 in State Bank of
India, Chennai which gives interest at the rate
of 6%. Find the interest he will get after 5
years.
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18
Answer:
Given,
Principal= 15000 Rs
Rate of interest = 6% per annum
Time= 5 yrs
Let the interest be I.
We know,
I = PRT/100
or, I = 15000× 6× 5/100
or, I = 4500 Rs
So, the interest would be Rs 4500.
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