Find the principle on a certain sum of money at 5% per annum for 2 2/5 years if

Question

Find the principle on a certain sum of money at 5% per annum for 2 2/5 years if the amount being Rs.1120?

Options:

A . Rs.1000

B . Rs.1100

C . Rs.1050

D . Rs.1200

Answer: Option A

1120 = P [1 + (5*12/5)/100]

P= 1000

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