1. In what time will 8,000, at 3% simple interest per annum produce the same income as 6,000 does in 5 years at 4% simple interest ?
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By: anil on 05 May 2019 02.25 am
Principal sum = Rs. 6000 and rate of interest = 4% and time period = 5 years Simple interest = $$frac{P imes R imes T}{100}$$ = $$frac{6000 imes4 imes5}{100}=1200$$ Now, let time taken for sum = Rs. 8000 at 3% to generate simple interest = Rs. 1200 is $$t$$ years => $$frac{8000 imes3 imes t}{100}=1200$$ => $$240t=1200$$ => $$t=frac{1200}{240}=5$$ years => Ans - (B)
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