Question

How much time will it take for an amount of Rs. 2000 to yield Rs. 640 as interest at 8% p.a. of SI?

• A. 5 years
• B. 4 years
• C. 6 years
• D. 7 years

Answer 1

Answer:

B. 4 years

GIVEN:

Principal = Rs. 2000

Rate of Interest = 8%

Simple Interest = Rs. 640

FORMULA USED:

$S.I=\frac{(P\times{R}\times{T})}{100}$

CALCULATION:

$640=\frac{(2000\times{8}{T})}{100}$

$T=\frac{64000}{(2000\times{8})}$

T = 4 years.