Question

How much time will it take for an amount of Rs. 300 to yield Rs. 123 as interest at 4.1% per annum of simple interest?

Answer 1

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Here,

Principal is ₹300

Interest=₹123

Rate=4.1% p.a.

Now,

SI=p*r*t/100

123=300*4.1*t/100

T=123*100/300*4

=41/4=10.25 years

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