If a man loans Rs. 8500 at a rate of 20% per annum, and he returns Rs. 13650 after sometime, find out the time after which he returned the total amount.
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Answer: 3 years
Step-by-step explanation:
SI= PRT/100
SI= (8500×20×1)/100
SI= 85×20
SI= 1700
T= (13650-8500)/1700
T= 5100/1700(approx.)
T= 3years(approx.)
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