Question
In how much time will the simple interest on a certain
sum of money be 6/5 times of the sum at 20% per annum?Solution
ATQ, Formula used: SI = (P × R × T)/100 where I = Interest, P = Principal, R = Rate and T = Time Explanation: Let principal = x then, Interest = x × 6/5 = 6x/5 6x/5 = (x × 20 × T)/100 ⇒ 6x/5 = (x × T)/5 ⇒ T = 6 years ∴ The time will be 6 years.
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