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In how many years, will 5,450 amount to 8,175, if invested at simple interest at the rate of 12.5% per annum?
1. 3
2. 4
3. 6
4. 5

1 Answer

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Best answer
Correct Answer - Option 2 : 4

Given:

R = 12.5 % per annum

Formula:

Let P = Principal, R = Rate of interest and N = Time

SI = PNR/100

Calculation:

SI = 8175 - 5450 = Rs.2725

Then,

⇒ 2725 = 5450 × 12.5 × N/100

⇒ N = 4

∴ In will take 4 years.

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