A business man paid Rs 450 as simple interest on a sum borrowed for a period of 3 Years at an interest rate of 2.5% per annum.Find the sum borrowed by him.
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Answer:
S.I.=₹450
Rate=25% per annum
Time=3 years
Sum= 100× S.I./Rate×Time
=100×450/25×3=₹600
.:Sum borrowed by him= ₹600
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