How long will it take for a sum of money to grow from Rs.1250 to Rs.10,000, if it is invested at 12.5% p.a simple interest?  Choose the correct answer
A) 38  B) 56  C) 22  D) 088  E) 11
Explanation:   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]   =&gt; n = 700 / 12.5= 
<gadget id="calculator">700 / 12.5</gadget>
<output>56</output>
56 years.   Answer: 56) 56years
<result>B</result>
How long will it take for a sum of money to grow from Rs.1250 to Rs.10,000, if it is invested at 12.5% p.a simple interest?