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Ramu borrowed Rs 7,300 from a bank on 8th April, 2002 and settled the account on 3rd march, 2003 . What amount would he pay if the rate of interest is 16 % per annum?

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answer is A.

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Detailed Solution

Concept- Using the formula for amount A =

you can get the answer just by putting the value.
A =

A = Rs . 8356

Hence, the correct answer is option number 1).

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