16. How much time will it take for a principal of Rs 20,000 to give Rs. 1,000 as interest at 5% annum?
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Step-by-step explanation:
I= (P×R×T)/100
T= (I×100)/(P×R)
T= (1000×100)/(20000×5)= 1
Therefore, Time Period (T)= 1 year..
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