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Q: Ravi took a loan from a bank at the rate of 8% p.a. simple interest. After 5 years, he had to pay an interest of `6,400 for the period. Find the Principal amount borrowed by Ravi.
  • A. ` 10,000
  • B. ` 16,000
  • C. ` 15,000
  • D. ` 18,000
Correct Answer: Option B -
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Explanations:

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