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Here, Principal (P) = Rs. 56,000, Simple Interest (S.I.) = Rs. 280, Time (T) = 2 years
Simple Interest =
Hence, the rate of interest on sum is 0.25%.
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Here, Principal (P) = Rs. 4500, Rate (R) = 10% p.a., Time (T) = 3 years
Simple Interest =
Now, Amount = Principal + Simple Interest
= 4500 + 1350
= Rs. 5850
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