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Mr Abhishek paid Rs.360 as an interest f...

Mr Abhishek paid Rs.360 as an interest for 8 months at `18%` p.a. Find the principal value of the loan taken by him.

Text Solution

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Let the principal be P.
`R=18%p.a.`
`T=8" months"=(8)/(12)"yeaRs. "=(2)/(3)"yeaRs."`
`SI=(PTR)/(100)`
`360=Pxx(2)/(3)xx(18)/(100)`
`P=(360xx3xx100)/(2xx18)=10xx300=Rs.3000`
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