what sum will earn an interest of ₹480in 6/2 years at the rate of 3% per annum simple interest
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Answer:Given that,
Simple interest = 480 rupees
Rate of interest = 3%
Time = 5/2 years
Using the formula,
SI = (PTR) /100
P =( SI ×100) / TR
P= (480×100×2) / (5×3) = 6400 rupees.
I hope this answers your question sufficiently. Happy learning.
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