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Question 69
A sum of ₹ 12500 gives interest of ₹ 5625 in T years at simple interest. If the rate of interest is 7.5%, then what will be the value of T?
Solution
Given, Principal = Rs.12500
Rate of interest = 7.5%
Time period = T years
Interest = Rs.5625
$$\dfrac{12500\times7.5\times T}{100} = 5625$$
=> $$937.5T = 5625$$
=> $$T = 6$$
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