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in Percentage and Simple Interest by (26.4k points)
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A principal becomes Rs 17,000 at the rate of 12% in 3 years. Find the principal.

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Best answer

Given the Principal becomes Rs 17,000 

Let the principle initially be P 

Rate of Interest r = 12 % Per annum 

Time n = 3 years

According to the problem given I = 17000 – P 

\(\frac{P\times3\times12}{100}\)

= 17000 = \(\frac{36}{100}\) p + p 

17000 = p(\(\frac{36}{100}\) + 1) 

17000 = p(\(\frac{136}{100}\)

p = \(\frac{17000\times100}{136}\) 

= 12,500 

∴ Principal P = Rs 12,500

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