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If the simple interest on a sum of money is $240 after 4 years at a rate of 6% p

Practice Questions

Q1
If the simple interest on a sum of money is $240 after 4 years at a rate of 6% per annum, what is the principal amount?
  1. $1000
  2. $1200
  3. $1500
  4. $1600

Questions & Step-by-Step Solutions

If the simple interest on a sum of money is $240 after 4 years at a rate of 6% per annum, what is the principal amount?
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