Simple interest on Rs. 500 for 4 years at 6.25% per annum is equal to the simple

Question

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 = ?

Options:

A . 4 years

B . 5 years

C . $$6\frac{1}{4}$$ years

D . $$8\frac{2}{3}$$ years

Answer: Option C

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