Multiple choice

Find the simple interest on Rs.5000 for 2 years at 6 % per annum

  1. Rs.600

  2. Rs.1200

  3. Rs.700

  4. Rs.575
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A Correct answer
Explanation

Simple Interest = (Principal * Rate * Time) / 100. SI = (5000 * 6 * 2) / 100 = 50 * 12 = 600.

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