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Multiple choice

In how much time will an amount of Rs.500 at 5% will give a simpole interest of Rs.50?

  1. 2 years

  2. 3 years

  3. 4 years

  4. 5 years

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

Simple interest is PRT/100. Thus, 50 = 500 x 5 x T/100 = 25T, giving T = 2 years.

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