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#1 2017-12-13 17:07:10
- shakeel123
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A man took loan from a bank at the rate of 12% p.a. simple intere...
General Basic Math Exams Quizzes MCQs Quizzes Simple Interest Math Quiz
Question:
A man took loan from a bank at the rate of 12% p.a. simple interest. After 3 years he had to pay Rs. 5400 interest only for the period. The principal amount borrowed by him was:
Option A):
Rs. 10000
Option B):
Rs. 20000
Option C):
Rs. 2000
Option D):
Rs. 15000
Correct Answer is Option D):
Rs. 15000
Explanation:
Solution:
Principal = Rs. (100 x 5400/12 x 3) = Rs. 15000
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