Mathematics for FinancePYQ Dec 23Question 1257 of 422
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Mr. XYZ invested $60,000$ in a nationalized bank in the form of fixed deposit at the rate of $7.5\%$ per annum simple interest rate. He received $83,500$ after the end of the term of fixed deposit. Calculate the period for which $60,000$ was invested in fixed deposit.

Options

A$3$ years
B$3.5$ years
C$4$ years
D$4.5$ years
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Correct Answer

Option a$3$ years

All Options:

  • A$3$ years
  • B$3.5$ years
  • C$4$ years
  • D$4.5$ years

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