Maya deposited Rs. 500 in a post office for one year at 12 1/2% per annum . Find the compound interest at the end of first year.
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Step-by-step explanation:
Principal= Rs.500
Rate of Interest= 12 1/2% p. a.=25/2%p.a.
Time= 1 year
P×R×T/100 = Simple Interest
=500×1× 25/2× 100
=₹62.5
Hence,the simple interest is₹62.5
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