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For a certain period, simple interest on Rs. 1000 at 10% per annum is Rs. 100 more than that on Rs. 800. Find the period (in years).

Solution

Correct Option: 3

SI on 1000 at 10% for T years =100T= 100T. SI on 800 at 10% for T years =80T= 80T. Difference: 100T80T=20T=100100T - 80T = 20T = 100, so T=5T = 5 years.

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