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Question
What would be the simple interest on an amount of Rs. 9600 at the rate of 6% per annum after 3 years?
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Solution
Given Principal P = ₹ 9600
Rate of interest R = 6% p.a.
Number of years = T = 3
Simple Interest I = `"PRT"/100 = (9600 xx 3 xx 6)/100`
= 96 × 18
= 1728
∴ Simple interest after 3 years would be ₹ 1728
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