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5 years, 6 months ago
5 years, 2 months ago
let “P” be the principal. let “R” is the original interest rate in percentage
P{ 1 + ( 4*R/100)} = 24000
If “1.2 R” is the increased interest rate in percentage.
Then, P{ 1 + (4*1.2*R/100} = 25800
On solving the above two equations, we get
Principle = 15000; R = 15%
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