A person took some loan from a bank at the rate of 15% annual interest. If he pays back Rs. 7,250 after 3 years then what is the amount of loan ?
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Answer:
₹5,000
Step-by-step explanation:
P+PRT/100=7250
P+P*15*3/100=7250
(45/100)P +P =7250
145/100P=7250
P=7250*100/145
= 5000
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