Rahul deposited 1.00,000 in his bank for 2 years at simple interest rate of 6%. How much interest would he earns? How much would be the final value of deposit?
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Answer:
principal = 1, 00 , 000
rate = 6%
time =2 years
Step-by-step explanation:
simple interest = p*r*t/100
= 100000*6*2/100
= 1000*6*2
= 12000
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