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Mr. Nair's monthly salary is ₹ 22,500. He took a loan of ₹ 30,000 on simple interest for 3 years at the rate of 5 p.c.p.a The amount that he will be paying as simple interest in 3 years is what percent of his monthly salary?

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Answer Text

10182025

Answer :
C
Solution :
`S.I.= ("Principal"xx"Time"xx"Rate")/100`<br> `= 30000xx3xx5/100 = ₹ 4500`<br> "Let x" % of 22500 = 4500<br>.`Rightarrow (22500xxx)/100 = 4500`<br>. `Rightarrow x = 4500xx100/22500 = 20`

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