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Question
In how many years will Rs.950 produce Rs.399 as a simple interest at 7%?
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Solution
P = Rs.950
S.I. = Rs.399
R = 7%
We know that :
T =`(100xx"I")/("P"xx"R")=(100xx399)/(950xx7)`
`=(10xx21)/(5xx7)` = 2 × 3 = 6 years
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