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Simple Interest

How many year...

Question

How many years does John need to invest Rs.8000 at 8% to earn Rs. 640 in simple interest?

A

2

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B

4

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C

3

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D

1

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E

8

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Solution

The correct option is D
1

640 = $\frac{800 * 8 * t}{100}$

=> t = $\frac{64000}{64000}$ = 1yr.

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