How long will it take for a sum of Rs 12600 invested at 9% per annum simple interest to amount to
RS 16002 ?
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Answer:
(P)Principal=12600 (A)Amount=16002
Interest=A-P= 16002-12600= 3402
P=12600 I=3402 R=9%
TIME= 3402*100 divided by 12600*9
so 340200 divided by 113400
=3
since the rate 9% was per annum means for a year so the answer is 3years
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