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      Question

      An amount of Rs. 2,500 invested at a simple interest

      rate of r% per annum grows to Rs. 4,930 in 6 years. Using the same rate of interest, in how many years will Rs. 600 grow to Rs. 818.70 under simple interest?
      A 2 years Correct Answer Incorrect Answer
      B 1.75 years Correct Answer Incorrect Answer
      C 2.5 years Correct Answer Incorrect Answer
      D 2.25 years Correct Answer Incorrect Answer

      Solution

      ATQ; 4930 - 2500 = {(2500 X r X 6)/100}

      Or, 2430 X 100 = 2500 X r X 6

      So, r = 16.2

      Let required number of years be 't'.

      So, (818.7 - 600 = {(600 X 16.2 X t)/100}

      Or, 218.7 X 100 = 600 X 16.2t

      Or, t = 2.25

      So, in 2.25 years Rs. 600 will amount to Rs. 818.7

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