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A man paid Rs 54,000 as interest on a loan in 3 years. What was the loan amount?
  1. Rs 100000
  2. Rs 120000
  3. Rs 150000
  4. None of these
Explanation

Let's assume the interest rate is 12% p.a. (common in Pakistan):

Interest = Principal × Rate × Time

54,000 = P × 0.12 × 3

P = 54,000 / (0.12 × 3)

= 54,000 / 0.36

= 150,000

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