What would be the annual interest accused on the deposit of ₹ 10000 in a bank that pay 4% per annum rate of interest
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Answer:
The Annual Interest will be Rs. 400.
Step-by-step explanation:
Principal = ₹ 10000
Rate = 4% p.a
Time = 1 yr
Simple Interest = (P*R*T)/100
= ₹ (10000*4*1)/100
= ₹400
Hope this helps.
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