mr. sood deposited ₹17000 in a bank at the rate of 12 percent per annum. if 30 percent is detucted as income tax on the interest, find the net annual income.
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Answer:
Step-by-step explanation :
given p=17000
r=12% and t=1 year
according to data
s.i.=prt/100=17000*12/100*1
=2040
income tax=30/100*2040
=612
interest=2040-612
=1428
therefore his annual income =17000-1428
=15572
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