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Calculate the interest on ₹2,500 for 1 year at the rate of 10%p.a.

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250

260

270

280

answer is A.

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Detailed Solution

Concept- Calculate the rate of interest, time period, and previously provided principal amount to calculate the interest using the basic interest formula.
For simple interest, the formula is

Given,

Thus the interest computed over ₹2500 at 10% P.A. over a year is ₹250.
Hence, the correct answer is option 1.

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