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 = 9036 ⇒ T = 212 years

Therefore, the correct answer is 2.5 years.

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