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In how many years will a sum of Rs. 4,000 yield a simple interest of Rs. 1,440 at 12% per annum?
- A3
- B\(2\frac{1}{2}\)
- C2
- D\(3\frac{1}{2}\)
Answer not set
Discussion 1
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CCommunity
We know that, formula for simple interest:
$(S.I.\; = \frac{{P \times R \times T}}{{100}})$
Where,
S.I. = Simple Interest = 1440
P= principal = 4000
T = Time = ?
R= Rate of Interest = 12%
Substituting the values in the formula
$(\Rightarrow 1440 = 4000 \times 12 \times \frac{T}{{100}})$
⇒ T = 12/4 = 3 yrs
$(S.I.\; = \frac{{P \times R \times T}}{{100}})$
Where,
S.I. = Simple Interest = 1440
P= principal = 4000
T = Time = ?
R= Rate of Interest = 12%
Substituting the values in the formula
$(\Rightarrow 1440 = 4000 \times 12 \times \frac{T}{{100}})$
⇒ T = 12/4 = 3 yrs