Question 92

In how many years will Rs.5000 grow to Rs.10000 at 12.5% Simple Interest?

Solution

Amount = Principal + S.I

10000 = 5000 + S.I

S.I = 5000

S.I= $$\frac{P \times R \times T}{100}$$

5000 = $$\frac{5000 \times 12.5 \times T}{100}$$

T = 8 years

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