1.

In how much time will the simple interest on a certain sum of money be \(\frac 6 5\) times of the sum at 20% per annum?1. 6 years2. 5 years3. 7 years4. 8 years

Answer» Correct Answer - Option 1 : 6 years

Given:

Interest = 6/5 times of principal

Rate of interest = 20%

Formula used:

SI = (P × R × T)/100

where I = Interest, P = Principal, R = Rate and T = Time

Explanation:

Let principal = x then,

Interest = x × 6/5 = 6x/5

6x/5 = (x × 20 × T)/100

⇒ 6x/5 = (x × T)/5

⇒ T = 6 years

∴ The time will be 6 years.



Discussion

No Comment Found

Related InterviewSolutions