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In what time will Rs. 6000 amount to Rs. 6360 at 8% p.a.?

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8 months

9 months

6 months

10 months

answer is B.

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Detailed Solution

We are given that P= Rs 6000, amount = Rs 6360, R = 8% p.a.
The formula for simple interest,

S . I = P × R × T 100

Where, S.I is simple interest. P=principal. R=rate percent. T=time.
The formula for amount,
Amount

= Sum + S .I .

Assume the time as t years.
Apply formula,
Amount

= Sum + S .I .

⇒ 6360 = 6000 + S . I

Substituting the formula of S.I and putting values of P, R and T, we get,
.

⇒ 6360 = 6000 + 6000 × 8 × t 100 ⇒ 6360 = 6000 1 + 8 × t 100 ⇒ 63606000 = 1 + 8 × t 100 ⇒ 63606000 − 1 = 8 × t 100

Simplifying further,

⇒ 6360 − 6000 6000 = 8 × t 100 ⇒ 3606000 = 8 × t 100 ⇒ t = 3606000 × 1008 ⇒ t = 68 × 12 months

Therefore,

t = 9 months

Thus, the correct option is 2.

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