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Question 72
A sum fetched a total simple interest of ₹ 1,350 at 9% p.a. in 5 years. What is the sum?
Solution
Given that Simple Interest = Rs.1350
Rate of interest = 9%
Time period = 5 years
Let the principal be Rs.P
$$\dfrac{P\times9\times5}{100} = 1350$$
=> P = Rs.3000
Therefore, Principal = Rs.3000
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