The simple interest for the principal Rs 3000, time 2 years and rate of interest 5% is:

Rs 300

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Rs 400

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Rs 200

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Rs 350

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Solution

The correct option is A
Rs 300

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Find the compound interest when Principal is $R s . 3000$ , rate is $5 %$ per annum and time is $2$ years.

2

R s . 160

R s . 2, 880

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