Find the simple interest and total amount for the following:
Rs. $2, 600$ in $2$ years $3$ months at the rate of $1 %$ per month.

Rs.

500

and Rs.

1, 102

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Rs.

520

and Rs.

1, 556

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Rs.

612

and Rs.

2, 501

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Rs.

702

and Rs.

3, 302

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Solution

The correct option is D Rs. $702$ and Rs. $3, 302$
Simple Interest $I = \frac{P N R}{100}$
Given,
$P =$ Rs. $2600$
$N = 2$ years $3$ months $= 2 \frac{3}{12} = 2 \frac{1}{4} = \frac{9}{4}$
$R = 1$ % per month $= 12$ % per annum
So, $I = \frac{2600 \times \frac{9}{4} \times 12}{100} =$ Rs. $702$
Amount $= P + I =$ Rs. $2600 +$ Rs. $702 =$ Rs. $3, 302$

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Find the simple interest and total amount for the following:Rs. 2,600 in 2 years 3 months at the rate of 1% per month.

The correct option is D Rs. 702 and Rs. 3,302Simple Interest I=PNR100 Given, P= Rs. 2600N=2 years 3 months =2312=214=94 R=1 % per month =12 % per annum So, I=2600×94×12100= Rs. 702 Amount =P+I= Rs. 2600+ Rs. 702= Rs. 3,302

Find the simple interest and total amount for the following:
Rs. $2, 600$ in $2$ years $3$ months at the rate of $1 %$ per month.