Ganesh deposited Rs. 55,000 in his savings account. If the bank offers 5% p.a. simple interest, in how many years will the account balance be Rs. 63,250?
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Step-by-step explanation:
63,250-55,000 = 13,250
5% of 55,000 = 2750
Ans = 13250/2750 = 4.81 years
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