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Simple interest

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  1. In how many years will the simple interest on a sum of money be equal to the
    principal at the rate of 16
    2
    		 % per annum ?
    3

    1. 4 years
    2. 5 years
    3. 6 years
    4. 8 years
Correct Option: C

Let the principal be p.
We can find the required time with the help of given formula ,

Time =
Simple Interest × 100
Principal × Rate

Time =
p × 100 × 3
 = 6 Years.
p × 50


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