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Asked in PPSC, FPSC and other one-paper exams (compiled from unofficial resources).

Financial MathematicsSimple and Compound Interest

A man takes a loan of $65000$ at an annual interest rate of $3\%$. In how many years will the interest become $68900$?

A.$5$
B.$3$
C.$4$
D.$2$Correct answer

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Quick fact: The time required is $2$ years.

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