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What sum will amount to Rs. 7000 in 5 years at $${\text{3}}\frac{1}{3}$$ % simple interest ?
Answer & Solution
Correct Answer:
Option
C
$$\eqalign{
& {\text{Amount Rs 7000}} \cr
& {\text{Total interest in 5 years}} \cr
& {\text{ = 5}} \times \frac{{10}}{3}\% = \frac{{50}}{3}\% = \frac{1}{6} \cr} $$
Hence required principal
= Rs. 6000
| Principal | Amount |
| 6 | (6 + 1) |
| ↓ × 1000 | ↓ × 1000 |
| 6000 | 7000 |
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