Question
The amount received on a certain sum of money at the rate
of interest of 18% per annum simple interest after 8 years is Rs. 12200. What was the principal (in Rs.)?Solution
(Principal * rate * time)/100 + Principal = 12200
=> (Principal * 18 * 8)/100 + Principal = 12200
=> 244 * Principal = 12200 * 100
=> Principal = 12200 * 100/244
=> Principal = 5000
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