Multiple choice

A sum fetched a total simple interest of Rs. 8,100 at the rate of 6% per year in 9 years. What is the sum?

  1. Rs. 15,000

  2. Rs. 18,000

  3. Rs. 12,000

  4. Rs. 9,000
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A Correct answer
Explanation

Using the simple interest formula SI = (P * R * T) / 100, we have 8100 = (P * 6 * 9) / 100. Solving for P gives P = (8100 * 100) / 54 = 15000.

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