Question

The simple interest on a fixed deposit of Rs 4600 at the rate of 13% p.a. is Rs 3588. Find the term of the deposit.

Answer 1

Answer:

It is calculated by multiplying the principal, rate of interest and the time period. The formula for Simple Interest (SI) is “principal x rate of interest x time period divided by 100” or (P x Rx T/100). Now if you invest Rs. 10,000 at 8% p.a. for 5 years, you can calculate the interest like this ...

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Answer 2

Answer:

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