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Interest on Rs.12000 for 1 month atthe rate of 10% per annum is

Question

Interest on Rs.12000 for 1 month atthe rate of 10% per annum is

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Solution

To calculate the interest, you can use the formula for simple interest which is I = PRT/100, where:

  • P is the principal amount (Rs.12000 in this case)
  • R is the rate of interest (10% per annum in this case)
  • T is the time period (1 month in this case)

However, since the time is given in months and the rate is per annum, we need to convert the time to years. Since there are 12 months in a year, 1 month would be 1/12 years.

So, substituting these values into the formula, we get:

I = (12000 * 10 * 1/12) / 100

Solving this, we get:

I = Rs.100

So, the interest on Rs.12000 for 1 month at the rate of 10% per annum is Rs.100.

This problem has been solved

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