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Question 42
The maturity value after three years, of a certain sum at 15% p.a. simple interest, is Rs. 8,700/-. Find the principal amount.
Solution
let principal amount=100x
interest=$$100x\times 3\times \frac{15}{100}$$=45x
maturity amt=100x+45x=145x
given 145x=8700
x=$$\frac{8700}{145}$$
=60
so principal amount $$60\times 100=Rs 6000$$
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