The simple interest on Rs. 30000 for 2 years at 4% per annum is __________.
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Principal(P) = ₹30000
Time (T) = 2yrs
Rate of interest(R) = 4%per annum (p.a)
Simple Interest (SI) = PRT÷100
= 30000 × 4 ×2÷100
= 300 × 4× 2 ÷ 1
= 1200 ×2÷1
= 2400 ÷ 1
= ₹2400
i.e, Simple Interest = ₹2400
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