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Lesson 7: Simple Interest
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Simple Interest
Lesson 7 · Simple Interest
Simple Interest
Mathematics
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8 min
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Question 1 of 12
1
What does a rate of 8% per year mean?
The interest for the whole period is Rs 8.
The money must be kept for 8 years.
Rs 1,000 earns Rs 8 of interest in one year.
Rs 100 earns Rs 8 of interest in one year.