What is the sum on which the simple interest for 5 years at the rate of 5% per annum is ₹125. Find amount also
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Answer:
Simple Interest (SI) = ₹125
Rate (R) = 5 years
Time (T) = 5 years
Let the sum of money be P.
SI = PRT/100
=> 125 = P × 5 × 5/100
=> 125×4 = P
=> P = ₹500
Hence, the sum of money is ₹500.
Amount = P + SI = ₹500 + ₹125 = ₹625
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₹625 is the right answer
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