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SI

The simple in...

Question

The simple interest on ₹ 1000 for a period of 5 years @ 7% per annum is .

A

₹ 170

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B

₹ 350

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C

₹ 1350

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Solution

The correct option is B ₹ 350
Simple Interest=SI = $\frac{P \times T \times R}{100}$

Principal =P = ₹ 1000,
Time in years =T = 5 years,
Rate of Interest =R = 7% per annum.

SI = $\frac{1000 \times 7 \times 5}{100}$ = ₹ 350

Hence, SI = ₹ 350

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