If ₹1000 is invested for two years at simple interest at the rate of 12.5% per annum, then what is the amount?
we know that Simple interest
SI =$$\frac{P\times R\times T}{100}$$ where P is the principle, R is rate of interest and T is time period
In the given question
P= 1000
T = 2 years
R = 12.5% per annum substituting the values
SI = $$\frac{1000\times 12.5\times 2}{100}$$= 250
Amount = P + SI = 1000 + 250 = 1250
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