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How long will it take for a sum of money to grow from Rs.1250 to Rs.12,000, if it is invested at 9% p.a simple interest?

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How long will it take for a sum of money to grow from Rs.1250 to Rs.12,000, if it is invested at 9% p.a simple interest?
posted Sep 21, 2018 by anonymous

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2 Answers

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1250*T*(9/100) = 12000 -1250
T = 10750*100/(1250*9) = 95.55 years = 95 + (5/9) years.

answer Sep 21, 2018 by Tejas Naik
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9% of Rs 1250 = 1250*9/100=Rs 112.5
The target growth = Rs 12000- Rs 1250= Rs 10750
Number of years req-d = Rs 10750 / Rs112.5 = 95.56 yrs

answer Sep 21, 2018 by Hanifa Mammadov



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