10. How long will it take for a sum of money
invested at 5% p.a. at simple interest to
increase its value by 40%?
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Answer:
Let the P be Rs 100
Amt = 40% increase = Rs 140
SI = Rs 40
R = 5%
T = ?
SI = PRT/100
40 = 100 x 5 x T / 100
4000 = 500T
T = 8 years
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