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Discussion

  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
  1. 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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