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The simple interest on a sum of money at 12% per annual for 8 years is half of the sum. The sum is______.

Solution

Correct Option: 4

SI =P×12×8100=96P100=0.96P=\frac{P\times12\times8}{100}=\frac{96P}{100}=0.96P. Given SI =P2=0.5P=\frac{P}{2}=0.5P. Since 0.96P0.5P0.96P\ne0.5P for nonzero PP, the conditions are inconsistent, so data is inadequate.

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