saina pay rupees 6250 for a sum of 5000 borrowed by her from a neighbour at 12.5% per annum in how many years did she pay back the loan
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plz tell it is compound or simple intrest
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Given ,
Amount = 6250
Principal= 5000
Thus Simple interest = 1250
SI = PRT / 100
1250 = 5000×12.5 × T /100
cross multiplication
1250×100 /5000 ×12.5
= 2
Thus the answer is 2 years
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