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Question 5
At 6% simple interest per annum a sum of money became ₹ 834 in $$6\frac{1}{2}$$ years. The sum initially invested was:
Solution
principle =rs834
rate=6%
time=6.5years
amount = $$p(1+ \frac{r}{100})t$$ (in power)
= $$834(1+ \frac{6}{100})6.5$$ (in power)]
= Rs 600
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