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Question
A principal becomes ₹ 17,000 at the rate of 12% in 3 years. Find the principal.
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Solution
Given the Principal becomes ₹ 17,000
Let the principle initially be P
Rate of Interest r = 12% per annum
Time n = 3 years
According to the problem given I = 17000 – P
= `("P" xx 3 xx 12)/100`
17000 = `36/100 "P" + "P"`
17000 = `"P"(36/100 + 1)`
17000 = `"P"(136/100)`
P = `(17000 xx 100)/136`
P = 12,500
∴ Principal P = ₹ 12,500
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