Find the interest on Rs. 1000 at 7% per month for 6 months.

Rs. 390

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Rs. 430

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Rs. 380

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Rs. 420

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Solution

The correct option is D
Rs. 420

Given; P = Rs. 1000 R = 7%, T = 6 month

$I = \frac{P T R}{100} = \frac{1000 \times 7 \times 6}{100}$ =Rs. 420

Therefore, interest = Rs. 420

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