InterviewSolution
Saved Bookmarks
| 1. |
In how many years will Rs. 7000 become Rs. 8680 at 4% per annum simple interest?1. 3 years2. 2 years3. 5 years4. 6 years |
|
Answer» Correct Answer - Option 4 : 6 years Given: Amount = Rs. 8680 Principal = Rs. 7000 Rate = 4% per annum Formula used: Time = (Simple interest × 100)/(Principal × rate) Simple interest = Amount – principal Calculation: Simple interest = Rs.(8680 - 7000) ⇒ Rs. 1680 Time = (1680 × 100)/(7000 × 4) ⇒ 6 years |
|