7. A farmer takes a loan of 8400 at the simple interest rate of 7% per annum. After what
2.
time will he have to pay 10 920 to clear the debt?
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1
Answer:
4.29 years
Step-by-step explanation:
given, amount = 10920, principle = 8400, rate = 7% p.a.
SI = amount - p = prt/100
=> 10920 - 8400 = 8400×7×t÷100
=> 2520 = 84×7×t
=> t = 4.29 years
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