In 4 years, an amount of ₹ 6,000 becomes ₹ 8,000 at a certain rate of simple interest. In what time at the same simple interest rate, will an amount of ₹ 525 become ₹ 700?
Question and options
In 4 years, an amount of ₹ 6,000 becomes ₹ 8,000 at a certain rate of simple interest. In what time at the same simple interest rate, will an amount of ₹ 525 become ₹ 700?
- 2 years
- 3 years
- 4 years
- 5 years
Answer and explanation
Correct answer: C - 4 years
SI of 2000 on 6000 in 4 years means 1/12 of principal per year. 525 to 700 needs SI 175 = 1/3 of principal, i.e. (1/3)/(1/12) = 4 years.
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