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    Question

    For a fixed amount, the interest received after 5 years

    at an annual rate of 12% on ordinary interest is Rs.6840. Find the amount invested (in Rs.).
    A 11,300 Correct Answer Incorrect Answer
    B 11,500 Correct Answer Incorrect Answer
    C 11,400 Correct Answer Incorrect Answer
    D 11,200 Correct Answer Incorrect Answer

    Solution

    We can use the formula for finding the simple interest to find the principal amount: I = (PRT)/100 6840 = (P x 12 x 5)/100 6840 = (P x 60)/100 6840 x 100 = P x 60 684000 = P x 60 P = 684000/60 P = 11400

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