Question : The simple interest on Rs. 800 for 6 years at 5.5% per annum is equal to the simple interest on Rs. 600 at 4% per annum for a certain period. The period is:
Option 1: 11 years
Option 2: 9 years
Option 3: 12 years
Option 4: 10 years
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Correct Answer: 11 years
Solution :
Simple interest = $\frac{\text{Principal × Rate × Time}}{100}$
Simple interest on Rs. 800 for 6 years at 5.5% per annum = $\frac{800 \times 5.5 \times 6}{100} =$ Rs. 264
Simple interest on Rs. 600 at 4 % per annum for a period T = Rs. $264$
$\therefore \frac{600 \times 4\times T}{100}= 264$
$\Rightarrow T = \frac{264 \times 100}{600\times 4}$
$\therefore T = 11$ years
Hence, the correct answer is 11 years.
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