Q) The interest on 50 at the rate of simple interest of 10% per annum for 2 years is how much times of the interest on 100 for 1 year at the same rate of interest (a) twice (b) half (c) one fourth (d) equal
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Simple interest is a method of calculating the interest that is charged on fixed deposits, savings accounts, and loans. It is calculated on the principal amount. Simple interest does not add any interest rate on the interest amount gathered on the principal amount.
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