Question
'Aarav' deposited Rs. 5,400 in a SIP at simple interest
of 9% p.a. If he earned Rs. 2,916 as interest, then find the duration (in years) for which the money was invested by him.Solution
ATQ, Let the duration for which the money was invested be ‘y’ years. Or, 2916 = {(5400 × 9 × y)/100} So, y = (2916/486) = 6 Therefore, the money was invested for 6 years.
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