Q-5 Answer the following as directed. 1) Find the simple interest of ₹ 1000 kept for 2 years at 3 % rate of interest. 2) Find the amount and interest of ₹ 5000 kept for 2 years at 7 % rate of interest.
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Answer the following as directed. 1) Find the simple interest of ₹ 1000 kept for 2 years at 3 % rate of interest. 2) Find the amount and interest of ₹ 5000 kept for 2 years at 7 % rate of interest.
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Answer:
1) 1000×2×3/100
= 60Rs.
2) interest = 5000×2×7/100 = Rs.700
Amount = 700 + 5000 = Rs.5700
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