Simple Interest Practice Test 4

Question : 16 of 26

Marks: +1, -0

How long will it take a sum of money invested at 6% per annum SI will be increase its value by 42%?

Solution:

Let the principal be Rs P .
Then,

SI=42%\of \;\;P=42/100P

R = 6%

∴T=42/100P×1/P×1/6=7\years

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