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IPMAT Indore 2023 - QA (MCQ) Q23 Explanation
December 30, 2024
Explanation:
(d)
Let the Principal be INR ‘P’
Difference of CI & SI for 3 years is given by the formula,
CI – SI = P[(R%)^3 + 3(R%)^2]
527 = P[(10%)^3+ 3(10%)^2]
Solving the equation we get, P = INR 17,000. Ans.