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The simple interest  on a sum of money is 1/25th of the principal, and if the number years is equal to the rate percent per annum. Find the number of years.

1. 1 year
2. 2 years
3. 3 years
4. 4 years

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Correct Answer - Option 2 : 2 years

Formula used:

Simple Interest = PTR/100


Let the sum of money be 'x'

Interest = x/25

Simple Interest = PTR/100

Here R = T

SI = PR2/100

⇒ x/25 = x × R2/100

⇒ R2 = 4

⇒ R = 2

∴ The number of years is 2 years

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