Question 141

In how many years will Rs.4600 amount to Rs.5428 at 3 p.c:p.a simple interest?

Solution

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S.I. = Amount - Principal

= 5428 - 4600 = Rs. 828

$$t = \frac{S.I. \times 100}{P \times r}$$

= $$\frac{828 \times 100}{4600 \times 3}$$

= $$\frac{276}{46} = 6$$ years

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