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- A man took loan from a bank at the rate of 12% p.
Question 1:
A man took loan from a bank at the rate of 12% p.a. simple interest. After 3 years he had to pay Rs. 5400 interest only for the period.The principal amount borrowed by him was:
A. Rs. 10000
B. Rs. 15000
Feedback Principal = Rs(100×5400/12×3)=Rs. 15000
C. Rs. 20000
D. Rs. 2000
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