Question
'Fatima' deposited Rs. 6,500 in a SIP at simple interest
of 10% p.a. If she earned Rs. 3,900 as interest, then find the duration (in years) for which the money was invested by her.Solution
ATQ, Let the duration for which the money was invested be ‘y’ years. Or, 3900 = {(6500 × 10 × y)/100} So, y = (3900/650) = 6 Therefore, the money was invested for 6 years.
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