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The simple interest on Rs. 25 for 4 months at the rate of 3 paise per rupee per month is :

240 paise
Rs. 1.40
Rs. 2.20
Rs. 3

Correct Answer: Rs. 3

Explanation:

I = PTR/100
I = 25 x 4 x 0.03/100
I = 0.03 x 100 = 300 Ps = Rs. 3

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