Find the simple interest on $₹ 350$ for $2 y e a r s$ at $11 % p e r a n n u m .$
Also find the amount.

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Solution

Principal (P) = $₹ 350$
Rate of interest (R) = $11 %$
Time (T) = $2 y e a r s$
Simple interest (I) = $\frac{P \times R \times T}{100}$
= $₹ \frac{350 \times 11 \times 2}{100} = ₹ \frac{7 \times 5 \times 11 \times 2}{2 \times 5} = ₹ 77$
Hence, Amount = $P + I$
= $₹ 350 + ₹ 77 = ₹ 427$

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