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Find 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.

Question

Find 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.

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Solution

Sure, let's calculate the simple interest for each amount separately.

  1. For Rs. 800 at 7% per annum for 2 years:

    Simple Interest = (Principal * Rate * Time) / 100 Simple Interest = (800 * 7 * 2) / 100 Simple Interest = Rs. 112

  2. For Rs. 700 at 16% per annum for 2 years:

    Simple Interest = (Principal * Rate * Time) / 100 Simple Interest = (700 * 16 * 2) / 100 Simple Interest = Rs. 224

  3. For Rs. 500 at 4% per annum for 2 years:

    Simple Interest = (Principal * Rate * Time) / 100 Simple Interest = (500 * 4 * 2) / 100 Simple Interest = Rs. 40

So, the total simple interest on Rs. 800 at 7% per annum, Rs. 700 at 16% p.a., and Rs. 500 at 4% p.a. for 2 years is Rs. 112 + Rs. 224 + Rs. 40 = Rs. 376.

This problem has been solved

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