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Asked By:  OBAID

The Businessman Lends 10000 rs for 2 years at the rate of 20% per annum. After one year he received 6000 rs. How much money he receive at the end of next year. A) 6000 B) 6800 C) 7200 D) 7000 Please explain this.

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Answer of the Above Question

Answer By: Excellant

Simple Interest = (P X r X t)/100 = (10000 X 20 X 2)/100 = 4000. You can find interest amount for as many years as you want by substituting that figure for 't'.

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