Question : Alipta got some money from her father. In how many years will the ratio of the money and the interest obtained from it be 10 : 3 at the rate of 6% simple interest per annum?
Option 1: 7 years
Option 2: 3 years
Option 3: 5 years
Option 4: 4 years
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Correct Answer: 5 years
Solution :
Given:
Rate = 6%
$\frac{\text{Principal}}{\text{Interest}}=\frac{10}{3}$
Let Principal be $10k$ and Interest be $3k$.
Simple interest =$\frac{\text{Principal×Rate×Time}}{100}$
⇒ $3k = \frac{\text{10k×6×Time}}{100}$
⇒ Time = $\frac{3k×100}{10k×6}$
$\therefore$ Time = 5 years
Hence, the correct answer is 5 years.
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