Ravi has paid simple interest on a certain sum for 2 years at 7% per annum is Rs. 700. Then, that principal is ________ (1) Rs. 5000 (2) Rs. 10000 (3) Rs. 7000 (4) Rs. 7500
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Answer is 5000.
interest for 2 yrs is 700,
interest for one yr is 350 at 7%per annum,so
7%------350
100-----?(5000)
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