SOLUTION: how long would $1250 have to be deposited at 6% per annum to gain a simple interest of $750?
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Question 1129956: how long would $1250 have to be deposited at 6% per annum to gain a simple interest of $750?
Answer by MathLover1(20850) (Show Source): You can put this solution on YOUR website!
Rate of interest % p.a.
Principal = $ (money deposited )
Let the time taken , years
By formula,
Thus, [ cross multiplication ]
=> [ dividing both sides by]
=>
=>
Thus, time taken is years. ( ans. )
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