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Aptitude Day 184

Simple Interest:

Introduction:

Simple Interest, SI = PTR/100

where  P = Principal.
           T = Time (years).
           R = Rate (per annum or p.a.). 


  
Problem:

Find the simple interest on 30,000 at 2/3 % per annum for 6 months.

Solution:
                 T = 6/12 = 1/2 Years

                 S.I = PTR/100
                       = [30000*1/2*2/3]/100

                       = 100. 

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