An amount after 4 years at the rate of 13.5 p.c.p.a.is Rs.2502.50 then find the principal.
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Answer:
The amount after simple interest is given by
A=P(1+rt)
Where P is principal amount
r is interest rate in decimal
t is number of years
Given, A=Rs.2502.50,r=
2×100
27
,t=4
2502.5=p(1+
200
27
×4)
⇒2502.5=1.54P
⇒P=Rs.1625
∴ The sum is Rs.1625.
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