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Q.

The time in which Rs 3600 will amount to Rs 4410 at 9% per annum simple interest is ____ years.


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Detailed Solution

The time in which Rs 3600 will amount to Rs 4410 at 9% per annum simple interest is 2.5 years.
Formula for simple interest,
S.I= P×R×T 100  
Where, S.I is simple interest.
P=principal.
R=rate percent.
T=time.
Formula for amount,
Amount=Sum + S.I.
Rearranging the above formula we get,
S.I=Amount - Sum
S.I=4495-3625
S.I=Rs.870
Let the time be T.
Apply formula,
S.I= P×R×T 100  
⇒810= 3600×9×T 100 ⇒T= 810×100 3600×9 ⇒T= 90 36 ⇒T=2 1 2  years  
Therefore, the correct answer is 2.5 years.
 
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