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Which sum amounts to Rs. 2,188.68 in 8 years at 7% simple interest per annum?1. Rs. 1,5002. Rs. 1,3033. Rs. 1,8004. Rs. 1,403 |
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Answer» Correct Answer - Option 4 : Rs. 1,403 Given: Amount = Rs. 2188.68 Time period = 8 years Rate of interest = 7% Formula used: SI = (P × R × T)/100 A = P + SI Where, SI = Simple interest P = Sum of money invested R = Rate of interest T = Time period of investment A = Amount Calculations: Let the sum invested by P ⇒ 2188.68 = P + [(P × R × T)/100] ⇒ 2188.68 = P + [(P × 7 × 8)/100] ⇒ 2188.68 = P + (56P/100) ⇒ 2188.68 = 156P/100 ⇒ P/100 = 14.03 ⇒ P = Rs. 1403 ∴ The sum of money is Rs. 1403 |
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