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Simple interest

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  1. The sum required to earn a monthly interest of Rs 400 at 10 % per annum at simple interest is
    1. Rs 2000
    2. Rs 12000
    3. Rs 24000
    4. Rs 48000
Correct Option: D

Total interest needed in a year = Rs 400 × 12
= Rs 4800
Principal = (100 × SI)/R × T
where, R = Rate
T = Time
SI= Simple Interest


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