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Question
On what principal will the simple interest be Rs. 7,008 in 6 years 3 months at 5% per year?
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Solution
Let Principal = Rs. P
Time (T) = 6 years 3 months = 6 year +`3/12`
year `=75/12=25/4` year =`6 1/4` years
Rate (R) = 5%
Simple interest =`("P"xx"T"xx"R")/100`
`⇒7,008=("P"xx25/4xx5)/100`
`⇒"P"=(7008xx100xx4)/(25xx5)`
`=(7008xx16)/5=112128/5`
= Rs. 22425.60
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