Practicing Success
If the simple interest for 6 yrs be equal to 30 % of the principal, it will be equal to the principal after how much time?
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10 yrs 30 yrs 20 Yrs 40 Yrs |
20 Yrs |
6 years simple interest is equal to 30% i.e. 1 year simple interest is equal to 5%. Thus, for simple interest to be equal to 100% i.e. principal amount it will take \(\frac{100}{5 }\) = 20 years |