Question
In how many years will ₹2,500 invested at the rate of
16% p.a. simple interest, amount to ₹4,100?Solution
SI = Rs. 4100 - Rs. 2500 SI = Rs. 1600 According to the formula: 1600 = (2500 × 16 × t)/100 t = 100/25 t = 4 years
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