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Question 60
What sum will fetch a simple interest of ₹ 25,410 in five and a half years at 6% p.a. rate of interest?
Solution
Let the principal be Rs.P
Rate of interest = 6%
Time period = 5.5 years
Simple Interest = Rs.25410
$$\dfrac{P\times 6 \times 5.5}{100} = 25410$$
=> $$P = 25410\times\dfrac{100}{33} = Rs.77000$$
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