Sita deposited some money in a bank at the rate of simple interest of 5.25\% per annum. After 2 years, she has got Rs. 840 as interest. Calculate the - Quantitative Aptitude MCQ Competitive Exams 2026 | ExamTest.live

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Sita deposited some money in a bank at the rate of simple interest of 5.25% per annum. After 2 years, she has got Rs. 840 as interest. Calculate the money she has deposited into the bank.

Solution & Step-by-step Explanation

Given parameters: Simple Interest (SI) = Rs. 840 Rate of Interest (R) = 5.25% p.a. Time (T) = 2 years Using the Simple Interest formula: SI = \frac{P \times R \times T}{100} 840 = \frac{P \times 5.25 \times 2}{100} 840 = \frac{P \times 10.5}{100} P = \frac{840 \times 100}{10.5} = \frac{84000}{10.5} = Rs. 8, 000

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Sita deposited some money in a bank at the rate of simple interest of 5.25% per annum. After 2 years, she has got Rs. 840 as interest. Calculate the money she has deposited into the bank.

Rs. 8,000

Rs. 10,000

Rs. 10,000

Rs. 9,000

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