1.

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

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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