A man deposited rs18000 in a bank for one year to earn interest. If the same interest is to be warned in 8 months at the same rate, what sum should be deposited by him
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SI=ptr/100 and X be the rate of interest
i.e., SI=18000*1*x/100
Let p be the principle amount which he deposited for 8 months
i.e., 18000x/100=p*(8/12)*x/100
on solving htis we get x=27000/- which must be deposited for 8 months.
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