At what rate percent per annum will 550 amount to 650 in 4 years? (1 Point) 5.5% 4.5%
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4yer
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How much time will it take for an amount of Rs. 450 to yield Rs. 81 as interest at 4.5% per annum of simple interest?
A
3 yrs
B
3.5 yrs
C
4 yrs
Correct Answer
D
4.5 yrs
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Correct option is
C
4 yrs
Given, Principal = Rs. 450, Rate of interest =4.5% and simple interest = Rs. 81
Simple interest =
100
PRT
⇒81=
100
450×4.5×T
⇒81×100=450×4.5×T
⇒T=4 years
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