Simple Interest on ₹1 लाख at 7% for 1 Year
Simple interest on ₹1,00,000 at 7% for 1 year: interest = ₹7,000, total amount = ₹1,07,000.
Interest Earned
₹40,000
Total Amount
₹1,40,000
Simple Interest = P x R x T / 100. Interest is calculated only on the original principal, not on accumulated interest.
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