SSC CHSL Model Paper 12

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Question : 55 of 100

Marks: +1, -0

A man took loan from a bank at the rate of 12% p.a. simple interest. After 3 years he had to pay Rs. 5,400 interest for the period.
The principal amount borrowed by him was:

Rs. 2000
Rs. 10,000
Rs. 15,000
Rs. 20,000

Solution:

Simple interest

= {\Principal ×\Rate×\Time}/100

Principal =

{ 5400×100}/{12×3 }

= Rs.15000

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