Question

In how many years shall Rs. 3,500 invested at the rate of 10% simple interest per annum, amount to Rs. 4,500?

• A. $$2\frac{4}{7} years$$
• B. $$2\frac{3}{7} years$$
• C. $$2\frac{6}{7} years$$
• D. $$2\frac{5}{7} years$$

Answer 1

Answer:

$$2\frac{6}{7} years$$

Solution:

Given:

Principal = Rs. 3500

Amount = Rs. 4500

Rate of interest = 10% p.a

Formula:

$SI = \frac{Prt}{100}$

Calculation:

SI = Rs. 4500 - Rs. 3500

SI = Rs. 1000

According to the formula:

$1000 = {(3500\times{10}\times{t})}{100}$

⇒$t = \frac{1000}{350}$

⇒$t=2\frac{6}{7}years$

∴ In $2\frac{6}{7}$ years Rs. 3,500 invested at the rate of 10% simple interest per annum, shall amount to Rs. 4,500.