Mohan borrowed 350.000 at
16% per annum interest rate from a
finance company. How much money he
will have to return after 5 years.
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PRINCIPAL=350
RATE=16%
TIME=5YEARS
SIMPLE INTEREST=PRT/100
=(350*16*5)/100
=28,000/100
=280
AMOUNT=350+280
=630
ANSWER IS ₹630.
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