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Simple Interest
A lady took loan from a bank at the rate of 12% p.a. simple interest. After 3 years she had to pay Rs. 5400 interest only for the period. The principal amount borrowed by her was :
Rs. 15,000
Rs. 1,50,000
Rs. 1500
Rs. 1,62,000
Show Answer
Correct Answer:
Rs. 15,000
Explanation:
Principal = Rs.(100 x 5400)/(12 x 3)= Rs. 15000.
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