Question
In what time will Rs. 1860 amount to 2641.20 at simple interest 12% per annum ?
Answer: Option B
$$\eqalign{
& {\text{Rate }}\% = {\text{12}}\% \cr
& {\text{Principal = Rs}}{\text{. 1860}} \cr
& {\text{Amount = Rs}}{\text{. 2641}}{\text{.20}} \cr
& {\text{Interest}} \cr
& {\text{ = Rs}}{\text{. }}\left( {2641.20 - 1860} \right) \cr
& = {\text{Rs}}{\text{. 781}}{\text{.20}} \cr
& {\text{By using formula,}} \cr
& {\text{Required time }} \cr
& = \frac{{781.20 \times 100}}{{1860 \times 12}} \cr
& = 3\frac{1}{2}{\text{ years}} \cr} $$
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$$\eqalign{
& {\text{Rate }}\% = {\text{12}}\% \cr
& {\text{Principal = Rs}}{\text{. 1860}} \cr
& {\text{Amount = Rs}}{\text{. 2641}}{\text{.20}} \cr
& {\text{Interest}} \cr
& {\text{ = Rs}}{\text{. }}\left( {2641.20 - 1860} \right) \cr
& = {\text{Rs}}{\text{. 781}}{\text{.20}} \cr
& {\text{By using formula,}} \cr
& {\text{Required time }} \cr
& = \frac{{781.20 \times 100}}{{1860 \times 12}} \cr
& = 3\frac{1}{2}{\text{ years}} \cr} $$
Was this answer helpful ?
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