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What sum of money will produce the interest of Rs 180 at the rate of simple interest of 6 percent per annum in 4 year?
Wiki User
∙ 11y ago
With simple interest the interest is not re-invested and does not gain interest.
Rs 180 over 4 years = Rs 180 ÷ 4 = Rs 90 per year.
Interest rate is 6% per year, thus Rs 90 = 6% of the capital
→ 6% x capital = Rs 90
→ capital = Rs 90 ÷ 6%
= Rs 90 ÷ 6/100
= Rs 90 x 100/6
= Rs 1500
Wiki User
∙ 11y ago
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