Calculate the simple interest if $P = R s 520, R = 10 p a i s e p e r 100 R s . p . a ., T = 3 m o n t h s$ .

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Solution

Calculating the simple interest
Given: $P = R s 520, R = 10 p a i s e p e r 100 R s p . a ., T = 3 m o n t h s$
first of all, convert rate into percent p.a.
$R = \frac{10 p}{100 R s} \times 100 = \frac{10 p}{100 \times 100 p} \times 100 = 0.1 % p . a . T = 3 m o n t h s = \frac{3}{12} y e a r = \frac{1}{4} y e a r S I = \frac{P \times R \times T}{100} = \frac{520 \times 0.1 \times 1}{100 \times 4} = R s 0.13$
Hence the simple interest is Rs. 0.13

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