In how many years will Rs.35000 will amount to Rs.87500 at 10% p.a. simple interest?
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Answer:
Simple Interest =Amount - Principal
Simple Interest=₹87500 - ₹35000
=₹52500
we know that,
Simple interest=P×R×T/1000
₹52500=₹35000×10×T/100
T=52500×100/35000×10
T=525/35
T=15
Therefore,Time=15 years
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