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Pankaj Chaudhary
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If the simple interest for 6 years be equal to 30% of the principal, it will be equal to the principal after ?

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(A) 20 years
(B) 30 years
(C) 10 years
(D) 22 years
If the simple interest for 6 years be equal to 30% of the principal, it will be equal to the principal after ?

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1 Answer

  1. Correct answer: (A) 20 years
    Explanation:

    The interest for 6 years is 30% of the principal, meaning the rate of interest per year is 306=5%\frac{30}{6} = 5\%.
    To find when the interest equals the principal, we use the formula Interest=P×R×T\text{Interest} = P \times R \times TInterest=P×R×T, where R=5%.
    For interest to be equal to the principal, 100%100\% interest is needed, and at 5% per year, this will take 1005=20 years.

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