How much time will-Rs 52,000 take to amount to Rs 66,625 at 6.25% per annum?

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Solution

Interest $= 66625 - 52000 = 14625$
$\frac{P r i n c i p l e \times r a t e \times t i m e}{100} = 14625 \Rightarrow \frac{52000 \times 625 \times t}{100} = 14625$
$\Rightarrow t = 14625 = 4.5 y e a r s$
$= 520 \times 6.25$

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