A certain sum of money amounts to rupees 2900 at 4% per annum in 4 years. In how many years will it amount to rupees 5000 at the same rate?

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Solution

The correct option is D 25
$2900 = p + \frac{p \times 4}{100} \times 4$
$∴ p = 2500$
$5000 = 2500 + \frac{2500 \times 4}{100} \times t$
$t = 25$

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