sham paid rs 9600 as interest on a loan he took five years ago @6% simple interest . what was the amount he took as loan ?
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Answer: He took Rs.12000 as loan
Step-by-step explanation: Let the principal be x
Interest = Rs.9600
Rate of interest = 16%
Time = 5 years
12000 =x
Hence he took Rs.12000 as loan
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