1. Mr.Nair's monthly salary is rs 22,500. He took a loan of rs 30,000 on simple interest for 3 years at the rate of 5 p.c.p.a. The amount that he will be paying as simple interest in 3 years is what percent of his monthly salary ?
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By: anil on 05 May 2019 01.25 am
Interest = (Principal * interest * No. of years ) Interest = (30,000*3*5)/100 Interest = 4,500 x% of 22,500 = 4,500 x = (4500/22,500)*100 x = 20
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