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    Question

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

    months at 3% per annum in order to earn Rs. 260 interest?
    A Rs.16000 Correct Answer Incorrect Answer
    B Rs.14000 Correct Answer Incorrect Answer
    C Rs.13000 Correct Answer Incorrect Answer
    D Rs.12000 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Let the sum of money be Rs. P. SI = Rs. 260, T = 2/3 year and R = 3% SI = (P × R × T)/100 ⇒  260 = P × (3/100) × (2/3) ⇒  P = Rs. 13000

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