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Discussion :: Simple Interest

  1. Find the principle on a certain sum of money at 5% per annum for 2 2/5 years if the amount being Rs.1120?
    2. A.
    Rs.1000
    B.
    Rs.1100
    C.
    Rs.1050
    D.
    Rs.1200

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    Answer : Option A

    Explanation :

    1120 = P [1 + (5*12/5)/100]

     P= 1000

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