If Rs. 10000 is invested at 5% interest rate p.a. Find the interest at the end of the one year.

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380

420

500

295

answer is C.

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Detailed Solution

Concept: In this problem, we must use a straightforward interest formula to determine the interest at the end of a year.
Below is a formula for simple interest.
Simple interest

Here, we have the principal

, the interest rate

, and the duration in years

.
For equation (1) , change 10,000 for P, 5 for,

and 1 for to get the interest after a year.
Simple interest

Simple interest

Then the required interest is Rs.500.
Hence, the correct answer is option (3) .

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