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Question
A man took a loan from a bank at the rate of 12% per annum simple interest. After 3 years, he had to pay ₹5400 for the whole period. The principal borrowed by him was
Options
₹2000
₹10000
₹15000
₹20000
MCQ
Solution
₹15000
Explanation:
Principal = ₹`((100xx5400)/(12xx3))` = ₹15000
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Simple and Compound Interest (Entrance Exam)
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