What amount will earn a monthly simple interest of rupees 20 at 6 paise per rupee for a year?
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Answer:
Capital =Rs 4000
Step-by-step explanation:
Assume thet the capital is =PRs
Monthly Interest =Rs 20
Interest Rate =6 paisa per rupee per year
=6 paisa par 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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