Question
A person 'P' invested Rs. 5,600
at a simple interest rate of 25% per annum for a specific duration, resulting in a total amount of Rs. 12,600 at the end. Determine the number of years the investment was held.Solution
ATQ, Let the time for which the sum was invested be 't' years ATQ; [(5600×t×25)/100] = (12600-5600) Or,1400t = 7000 Or, t = 5
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