Question

What sum of money lent out at 12 per cent p.a. simple interest would produce ₹ 9000 as interest in 2 years?


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Answer 1

Answer:

Interest (I) = Rs. 9000

Rate (R) = 12% p.a.

Time (T) = 2 years

Principal (P) = 100×I/R×T

= 100×9000/12×2 = Rs. 37500

Hence, the required principal amount is Rs. 37500.

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Answer 2

Answer:

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