What principal will amount to R s .15000 at per annum in 5 years?

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10,000

20,000

30,000

60,000

answer is A.

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Detailed Solution

Concept- Using the principal, interest rate, and interest period, we can calculate the interest. The primary, however, remains unknown. Thus, interest may be expressed in terms of principal. Since the amount is the total of the principle and interest, we obtain the principal by substituting the amount.
When a principal P is stored for n years at an interest rate of r, the interest is calculated as follows:

The amount received after the period is the sum of the principal and the interest.

Formula for Calculating Simple Interest Amount

Hence, the correct answer is option 1.

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