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How long will a sum of money invested at 5% per annum SI take to increase its value by 50%

Correct Answer: 10 yr

Explanation:

Let sum be P.
∴ 50% of P = P/2 = SI
Now, P/2 = (P x 5 x T) / 100 [ as time = 10 yr]
⇒ P/2 = 5PT / 100
⇒ 1/2 = T/20
∴ = T = 10 yr


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