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A sum of Rs.5000 is lent for 4 years at the rate of 15% per annum. Find simple interest. |
4000 4500 2700 3000 |
3000 |
The total Simple Interest received in 4 years = 15 × 4 = 60% Simple Interest = Principal × 60% = 5000 × 60% = Rs.3000/- |
