Rahim borrowed 8000 Irom a moneylender at an interest of 2% per month. How muchsimple interest he has to pay tor 4 months ?
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Answer:
P = Rs 8000
R = 2% per month
T = 4 months
SI = PRT/100
=> SI = 8000 x 2 x 4 / 100
=> SI = 64,000 / 100
=> SI = Rs 640
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