find the simple interest at the rate of 5% p.a for 3 years on that principal which in 4 years 8 months at the rate of 5%p.a gives rs 1200 at simple interest
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Answer:
According to the question,
Using the formula CI=P[1+
100
R
]
n
−P
CI=2400[1+(
100
5
)]
3
−2400
CI=2,778.3−2400
On solving we get CI=378.3
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