Question
A sum of Rs. 7000 is invested in a scheme of simple
interest. The rate of interest in this scheme is 20 percent per annum. If Rs. 1750 interest is obtained, then for how many months is the sum invested?Solution
ATQ, 1750 = (7000 × 20 × T)/100 ⇒ T = 175000/140000 ⇒ T = 1.25 years = 15 months ∴ Amount was invested for 15 months
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