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Question
What would be the simple interest on Rs. 8400 in 9 months at the rate of 8.25 percent per annum?
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Solution
Principal P = ₹ 8400
Rate of interest R = 8.25%
Duration T = 9 months = `3/4` years
Simple interest = `"PRT"/100`
= `(8400 xx 8.25)/100 xx 3/4`
= `21 xx 33/4 xx 3 = (99 xx 21)/4`
= `2079/4`
= 519.75
∴ Simple interest would be ₹ 519.75.
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