What is the simple interest on Rs. 90000 for 5 years at 8% per annum rate of interest?Question 6Answera.Rs. 32000b.Rs. 46000c.Rs. 30000d.Rs. 36000
Question
What is the simple interest on Rs. 90000 for 5 years at 8% per annum rate of interest?Question 6Answera.Rs. 32000b.Rs. 46000c.Rs. 30000d.Rs. 36000
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Solution 1
To calculate simple interest, we use the formula:
Interest = Principal x Rate x Time
where:
- Principal is the initial amount of money that was put into the account, or loaned/borrowed
- Rate is the annual interest rate (in decimal form, so 8% would be 0.08)
- Time is the amount of time the money Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob
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