|A) 65years||B) 56years|
|C) 45years||D) 57years|
Simple interest is given by the formula SI = (pnr/100), where p is the principal, n is the numberof years for which it is invested, r is the rate of interest per annum
In this case, Rs. 1250 has become Rs.10,000.
Therefore, the interest earned = 10,000 – 1250 = 8750.
8750 = [(1250 x n x 12.5)/100]
=> n = 700 / 12.5 = 56 years.