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Simple interest on 20,000 rupees at 6.75 per cent for 4 months is:
A540 rupees
B270 rupees
C675 rupees
D450 rupees
Answer & Solution
Correct answer: D. 450 rupees
1. A full year would give 6.75 per cent of 20,000, that is 1,350.
2. Four months is one third of a year.
3. One third of 1,350 comes to 450 rupees.
_Source: OpenStax 'Contemporary Mathematics', Ch 6 'Money Management' (CC BY)_
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