Question
Find the simple interest (in ₹) on ₹3000 as a sum
borrowed at 7% per year rate of interest for 5 years.Solution
'Given: Principal = ₹3000 Rate = 7% per year Time = 5 years Simple Interest = (P × R × T) ÷ 100 = (3000 × 7 × 5) ÷ 100 = 105000 ÷ 100 = ₹1050
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