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In how many years will the simple interest on a sum of money be equal to the principle at rate of \(12 \dfrac{2}{4}\%\) p.a.?1. 8 years2. 5 years3. 7 years4. 6 years |
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Answer» Correct Answer - Option 1 : 8 years Given: Rate = \(12 \dfrac{2}{4}\%\) = (50/4)% Formula: SI = Prt/100 Calculation: Let principal be Rs. x, then SI = Rs. x According to the question x = (x × 50 × t)/(100 × 4) ⇒ t = 8 years ∴ In 8 years will the simple interest be equal to the principal. |
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