Multiple choice

Rahul invested Rs. 70,000 in a bank at the rate of 6.5% p.a simple interest rate. He received Rs. 85,925 after the end of term. Find out the period for which sum was invested by Rahul.

  1. 6.5 years

  2. 2.5 years

  3. 3.5 years

  4. 4.5 years
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Time = Interest x 100             Principal x Rate Thus, 15925 x 100            70,000 x 6.5 i.e. 3.5 years

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