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Question

A sum Rs. $500$ was lent out at the rate of $4 %$ for $2$ years. The amount returned after $2$ years is
Rs. $540$
Rs. $558$
Rs. $542$
Rs. $530$

A

Rs.

540

B

Rs.

530

C

Rs.

558

D

Rs.

542

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Solution

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Principal $= R s . 500$
Rate $= 4 %$
Time $= 2$ years
Interest $= \frac{P \times R \times T}{100}$
Interest $= \frac{500 \times 5 \times 2}{100}$
Interest $= R s . 40$
Amount $= P + I = 500 + 40 = R s . 540$

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