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Understanding Simple Interest

At a rate of ...

Question

At a rate of $10$ p.c.p.a , what would be the interest for one year on $R s . 6000$ ?

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Solution

Given, Principal $(P) =$ Rs $6000$
Rate of interest $(R) = 10 %$
Time $= 1$ year

Interest $= \frac{P \times R \times T}{100}$

$= \frac{6000 \times 10 \times 1}{100}$

$=$ Rs $600$

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