what sum of money amount to Rs 2025 in 3 months at 5% simple interest per annum?
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Answer:
Rate = 5%pa
Time = 3months
Amount = 2025
Firstly we change time into years
As we in 12 month = 1 year
3month = 3/12 = 1/4 years
interest Rs 2025 - P
Now
2025 P = Px1/4 × 6/ 100
2025 P = 0.25 *6/100
2025 - p = 1.5 / 100
2025 = 1.5/100 +P
2025 = 150 p / 100
cross multiply :
150P 2025 × 100
P = 202500/150
P = 1350
Principal=1350
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