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Multiple choice

Interest on Rs.500 at the rate of 5% is Rs.100. The time is

  1. 1 years

  2. 4 years

  3. 10 years

  4. 20 years

Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Simple interest formula: I = (P * R * T) / 100. 100 = (500 * 5 * T) / 100. 100 = 25 * T. T = 100 / 25 = 4 years.

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