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Monica

· started a discussion

· 1 Months ago

regarding solution (Question: 188640.0 )

instead of interest, shouldn't amount from two sums be equated as income would include principal and interest.

Question:
In what time will ' 8,000 at 3% simple interest per annum produce the same income as ' 6,000 does in 5 years at 4% simple interest ?
Options:
A) 3 years
B) 4 years
C) 5 years
D) 6 years
Solution:
Ans: (c) ATQ,

Required time = \(\cfrac{6000 × 5 × 4}{8000 × 3}\)

= 5 years

Knowledge Expert

· commented

· 1 Months ago

Dear Student,

Here we have to calculate income, these income represent the simple interest. thus we compare given data by the the simple interest formula.

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ruchika sharma

· commented

· 1 Months ago

i feel the same that amount should have been made equal
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