Question

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In how many years will a sum of $ 800 yield an interest of $ 405 at 15% per annum.

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Answer 1

ANSWER

4 YEARS

EXPLANATION!

Time = (100 × 81) / (450 × 4.5) = 4 years

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Answer 2

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Given,

Sum => $800

Interest =>$ 405

Rate of interest => 15% p.a.

Required time => 100×405/800×15

=> 405/8×15

=> 50/15

=> 3 5/15 yrs.

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