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    Question

    What sum of money must be given at simple interest for 8

    months at 4% per annum in order to earn Rs. 320 interest?
    A Rs.12600 Correct Answer Incorrect Answer
    B Rs.12800 Correct Answer Incorrect Answer
    C Rs.12000 Correct Answer Incorrect Answer
    D Rs.12200 Correct Answer Incorrect Answer

    Solution

    Let the sum of money be Rs. P. SI = Rs. 320, T = 2/3 year and R = 4% SI = (P × R × T)/100 ⇒ 320 = P × (4/100) × (2/3) ⇒ P = Rs. 12000

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