3. In what time will the interest on a sum of money be 3/5th of the amount at 10% simple interest?
SIMPLE INTEREST
(Jabalpur, 2007) Ans. 15 years)
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Interest = ( Principal * Rate * Time ) / 100
Interest = ( Principal * Rate * Time ) / 100(3/5) * P = (P * 10 * T)/100
Interest = ( Principal * Rate * Time ) / 100(3/5) * P = (P * 10 * T)/1003/5 = T / 10
Interest = ( Principal * Rate * Time ) / 100(3/5) * P = (P * 10 * T)/1003/5 = T / 10T = 30/5 = 6 years
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