Simple Interest

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  • Q1

    The simple interest of Rs 8500 for 2 years at 8% p.a. is

    Marks:1
    Answer:

    Rs 1360.

    Explanation:

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  • Q2

    If Ravi borrows Rs 750 for a period of 5 years at the rate of 5%, then the simple interest that he has to pay, will be

    Marks:1
    Answer:

    Rs 187.50.

    Explanation:

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  • Q3

    The difference between the amount and principal is said to be the ________.

    Select the correct option to complete the above sentence.

    Marks:1
    Answer:

    interest.

    Explanation:

    Interest is the extra money, which is being paid for borrowing a sum of money.

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  • Q4

    The amount to be paid on 7500 at 3.5% p.a. for 1 year is

    Marks:1
    Answer:

    7762.50.

    Explanation:

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  • Q5

    If P = INR1200 , R= 12% per annum and T = 3 years, then simple interest would be

    Marks:1
    Answer:

    INR432

    Explanation:

    I = PRT/100

    Here, P= INR1200, R = 12% and T = 3 years
    I = (1200 12 3) / 100 = 432
    I = INR432

     

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