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In how many years Rs. 7500 becomes Rs. 11,550 @ 13.5% p.a at simple interest.?1. 4 years 2. 2 years 3 months3. 2 years 1 month4. 4 years 6 months |
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Answer» Correct Answer - Option 1 : 4 years Given: Amount = Rs. 11550 Principal = Rs. 7500 Rate of interest = 13.5% Formula Used: Simple interest = Amount – Principal Simple interest = Principal × Rate of interest/100 × Time Calculation: Simple interest = Amount – Principal ⇒ 11,550 – 7500 ⇒ 4,050 Simple interest = Principal × Rate of interest/100 × Time ⇒ 4,050 = 7500 × (13.5/100) × Time ⇒ Time = 4 years ∴ In 4 years Rs. 7500 becomes Rs. 11550 @ 13.5% p.a. |
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