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Akbar deposited Rs 520 in a bank which pays interest at the rate of 8 percent perannum. Find the interest and the amount to be received by him after 2 years |
Answer» Given :-Akbar deposited Rs 520 in a bank which pays INTEREST at the RATE of 8 percent per annum. To find :-Find the interest and the amount to be received by him after 2 years Solution :-
As we know that Simple Interest = P × R × T/100 => S.I = 520 × 8 × 2/100 => S.I = 8320/100 => S.I = Rs.83.2 Amount = Principal + Interest Amount = Rs.520 + Rs.83.2 Amount = Rs.603.2 Some Formulae :-★ LOSS = Cost price - selling price ★ Gain = Selling price - cost price ★ Loss% = loss/C.P × 100 ★Gain% = gain/C.P × 100 ★ Discount%=Discount/Marked price×100 |
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