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Question
Angela deposited 15000 rupees in a bank at a rate of 9 p.c.p.a. She got simple interest amounting to 5400 rupees. For how many years had she deposited the amount?
Solution
Amount deposited = Rs 15000
Rate of interest = 9%
Simple interest = Rs 5400
Let the number of years be T.
SI =
5400 = 1350 × T
T =
T = 4
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