what amount will earn a monthly simple interest of rs 20 at 6 paise per rupee for a year?
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Answer:
Capital = Rs 4000
Step-by-step explanation:
Assume that the Capital is = P Rs
Monthly Interest = Rs 20
Interest Rate = 6 paise per rupee per year.
= 6 Paisa per 100 Paisa per Year
= 6 % per year
Time = 1 Month = 1/12 Years
Simple interest = P * R * T /100
=> 20 = P * 6 * (1/12) /100
=> 20 = P /200
=> P = 4000
Capital = Rs 4000
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