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Question
In how many years will the simple interest on a certain sum be 4.05 times the principal at 13.5 per cent per annum?
Solution
Let the principal be ₹ P.
Then, simple interest = ₹ 4.05 P
Rate = 13.5%
Now, Interest = `(P xx R xx T)/100`
∴ 40.5 P = `(P xx 13.5 xx T)/100`
⇒ Time = `(4.05 xx 100)/13.5` = 30 years
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