In how much time would the simple interest on a certain sum be 0.563 times the principal at 5.63% p.a ?

10months

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5 years

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11 years

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9 years

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10 years

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Solution

The correct option is E
10 years

$0.563 P = \frac{P \times 5.63 \times T}{100}$

$T = 10 y e a r s$

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