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Formula for CI

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Question

Find the amount from the investment of $R s . 4500$ for two years at $5$ paise per rupee interest.

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Solution

Given,
Rate $= \frac{5}{100} \times 100 = 5 %$

$S . I . = \frac{P R T}{100} = \frac{4500 \times 5 \times 2}{100} = 450$ Rs.

$A = P + S I = 4500 + 450 = 4950$ Rs.

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