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Q.

Find the S.I on Rs 200 for 7 months at 5 paise per rupee per month.


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a

Rs. 0.7

b

Rs.700

c

Rs.70

d

None of these 

answer is C.

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Detailed Solution

Concept: The interest amount for a particular principal amount of money at some rate of interest in the given time period is the Simple interest.
Simple interest= principal × rate of interest × time period
Given, principal amount (P) = Rs 200[11]
 Rate of interest =5 paisa rupee per month
 =0.05 rupees per month
 Time period = 7months
Here, using the simple interest formula for the given rate of interest,
Simple interest=principal×rate of interest×time period
⇒Simple interest=200×0.05×7
⇒Simple interest= 70
Simple interest on Rs 200 at rate of  5 paise per month for 7 months is Rs 70.
Hence, the correct answer is option 3.
 
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