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Q.

The time taken for Rs. 400 to amount to Rs. 448 at the rate of 4% per annum is:


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a

3 years

b

4 years

c

5 years

d

6 years 

answer is A.

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Detailed Solution

Concept: The applicable formulas in the solution are
{"mathml":"<math class="image_resized" style="width:448px;height:36px"><span style="font-family:Applying the simple interest formula and entering the previously provided data will allow us to calculate the interest. After that, multiply the Final Amount by the sum of the Principal and Interest.
{"mathml":"<math class="image_resized" style="width:386px;height:296px"><span style="font-family:Hence, the correct answer is option 1.
 
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