Question

Let's see how many of you can answer correctly.

What principal will amount to rupees ₹1595 in 5 years at 9% simple interest.

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Answer 1

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A = P ( 1 + nr/100 )

1595 = P ( 1 + 5*9 / 100 )

1595 = P × 145/100

P = 1595/1.45

P = 1100

Answer 2

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A = P ( 1 + nr/100 )

1595 = P ( 1 + 5*9 / 100 )

1595 = P × 145/100

P = 1595/1.45

P = 1100 Answer completed

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