Deepa invested a sum of money from March 2011 to March 2016 at the rate of 12% p.a. If the interest received is Rs. 1620, find the sum.
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Answer:
2700
Step-by-step explanation:
Simple Interest = SI = P x R x T /100
Principle Amount = P = ?
Rate of Interest = R = 12%
Time = T = 2008 - 2003 = 5 years
Simple Interest = SI = Rs. 1620
So:
SI = P x R x T /100
1620 = Px12x5/100
60P = 162000
P = 162000/60 = Rs. 2700.
Ans: Rs. 2700.
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