Question

A sum of Rs. 10640 gives interest of Rs. 3724 in x years at 5% simple interest. What will be the value of x?

• A. 8 years
• B. 6 years
• C. 7 years
• D. 9 years

Answer 1

Answer:

C. 7 years

Solution:

Given:

Principal = Rs. 10640

Simple interest = Rs.3724

Rate = 5%

Formula used:

Simple interest $(SI) = Principal (P)\times{Rate (r)}\times{\frac{Time (x)}{100}}$

$SI = \frac{(P\times{r}\times{x})}{100}$

Where x is in years

Calculation :

$3724 = \frac{10640\times{5}\times{(x)}}{100}$

$⇒ x=\frac{7448}{1064}$

∴ x = 7 years