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Select the correct answerFind the simple interest on Rs. 800 at 7% per annum and on Rs. 700 at 16% p.a. and on Rs. 500 at 4% p.a. for 2 years.Options350476376367

Question

Select the correct answerFind the simple interest on Rs. 800 at 7% per annum and on Rs. 700 at 16% p.a. and on Rs. 500 at 4% p.a. for 2 years.Options350476376367

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Solution

To find the simple interest, we use the formula:

Interest = (Principal * Rate * Time) / 100

For Rs. 800 at 7% per annum for 2 years: Interest = (800 * 7 * 2) / 100 = Rs. 112

For Rs. 700 at 16% per annum for 2 years: Interest = (700 * 16 * 2) / 100 = Rs. 224

For Rs. 500 at 4% per annum for 2 years: Interest = (500 * 4 * 2) / 100 = Rs. 40

Adding all these interests together: Total Interest = 112 + 224 + 40 = Rs. 376

So, the correct answer is 376.

This problem has been solved

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