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On what sum of money lent out at 9% per annum for 6 years does the simple interest amount to Rs 810? |
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Answer» Given simple interest I = Rs 810 Let the sum of money (Principal) be P Rate of interest r = 9 % Per annum. Time n = 6 years I = \(\frac{pnr}{100}\) 810 = \(\frac{P\times\,6\times\,9}{100}\) P = \(\frac{810\times100}{6\times9}\) P = Rs 1500 Sum of money required = Rs 1500 |
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