Find the interest earned at the end of one year on a sum of ₹6800 at 12% simple ineterest per annum.

₹3500

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₹3264

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₹3624

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₹3462

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Solution

The correct option is B ₹3264
Principal = ₹6800, Rate = 12% and time = 1 year
S.I = Simple Interest $= \frac{P \times r \times t}{100}$

$\Rightarrow S I = \frac{6800 \times 12 \times 1}{100}$

= ₹ 816

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Similar questions

The simple interest on a certain sum of money at 10% per annum is Rs. 6,000 in 2 years.
Find :

(i) the sum.

(ii) the amount due at the end of 3 years and at the same rate of interest compounded annually.

(iii) the compound interest earned in 3 years.

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