Ryan bought 15000 from a bank to buy a car at 10900 as interest while clearing the loan, find the time for which the loan was given
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Step-by-step explanation:
principle = 15000
rate of interest = 10%
simple interest = 9000
Time = s.i × 100 / p × r
= 9000 × 100 / 15000 × 10%
= 9000 × 100 / 15000 × 10/100
= 9000 × 100 / 15000 × o.1
= 3/5 years Ans
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