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Simple interest on Rs. 500 for 4 years at 6.25% per annum is equal to the simple interest on Rs. 400 at 5% per annum for a certain period of time. The period of time is =

a) 4 years
b) 5 years
c) $$6\frac{1}{4}$$ years
d) $$8\frac{2}{3}$$ years

Answer: c
Explanation:
$$\eqalign{ & {\text{Let the required time = t years }} \cr & \Leftrightarrow \frac{{500 \times 4 \times 6.25}}{{100}} = \frac{{400 \times 5 \times {\text{t}}}}{{100}} \cr & \Leftrightarrow 5 \times 4 \times 625 = 400 \times 5 \times {\text{t}} \cr & \Leftrightarrow {\text{t = }}\frac{{625}}{{100}} = \frac{{25}}{4} \cr & {\text{t}} = 6\frac{1}{4}{\text{years}} \cr} $$

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