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A loan of Rs. 2000 is taken at a simple interest rate of 8% per annum. How much interest will be paid after 4 years? (2000)

Practice Questions

1 question
Q1
A loan of Rs. 2000 is taken at a simple interest rate of 8% per annum. How much interest will be paid after 4 years? (2000)
  1. Rs. 640
  2. Rs. 480
  3. Rs. 320
  4. Rs. 560

Questions & Step-by-step Solutions

1 item
Q
Q: A loan of Rs. 2000 is taken at a simple interest rate of 8% per annum. How much interest will be paid after 4 years? (2000)
Solution: Simple Interest = P * r * t = 2000 * 0.08 * 4 = 640.
Steps: 7

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