A company takes a loan of Rs. 25,000 at 8% interest for the extension of a mine. To repay the loan, an additional saving of Rs. 2500 per annum is necessary. The period taken for repayment is

A company takes a loan of Rs. 25,000 at 8% interest for the extension of a mine. To repay the loan, an additional saving of Rs. 2500 per annum is necessary. The period taken for repayment is Correct Answer 21 years

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