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Question

Aditi took a loan of ₹1,50,000 from a bank at interest of 10% per annum. Calculate the simple interest that she has to pay after 5 years.

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Solution

Given,
Principal (P) = ₹1,50,000
Rate of interest (r) = 10%
Time (T) = 5 years

Simple Interest = P ×T × r100, where T is in years
So, Simple Interest = 1,50,000 × 5 × 10100 = 75,000
So, Aditi has to pay a simple interest of ₹75,000 after 5 years.

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