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Interest on ₹ 12500 at 18% per annum for a period of 2.333 years is ₹ ____.

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Detailed Solution

Interest on ₹ 12500 at 18% per annum for a period of 2.333 years is ₹ 5250.
Given, principal amount(P) = ₹ 12500.
Time(T) = 2.333 yrs
Rate(R) = 18%
Simple interest =

\frac{PTR}{100}

Simple interest =

\frac{12500 \times 2.333 \times 18}{100}

= \frac{524925}{100}

= 5249.25

Hence, simple interest is ₹ 5250 approx.
So, the correct answer is ₹ 5250.

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