what principal will amount to 16240 in 4 years at the 4% per annum
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Simple Interest = P N R/ 100
Amount = P+ [ PNR/100 ]
16240 = P [ 1 + [4 x 4 / 100] ]
1640= P [ 1 + [4/25] ]
16240= P [ 29/ 25 ]
560=P/25
P=14000
Amount = P+ [ PNR/100 ]
16240 = P [ 1 + [4 x 4 / 100] ]
1640= P [ 1 + [4/25] ]
16240= P [ 29/ 25 ]
560=P/25
P=14000
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