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Question 55
A sum of ₹ 10640 gives interest of ₹ 3724 in x years at 5% simple interest. What will be the value of x ?
Solution
Given, Principal = Rs.10640
Rate of interest = 5% per annum
Time period = x years
Simple Interest = Rs.3724
$$\dfrac{10640\times5\times x}{100} = 3724$$
=> $$x = 7 years$$
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