Question
Download Solution PDFIn how much time will a sum of Rs. 10200 amounts to Rs. 19125 at the rate of 12.5 percent per annum at simple interest?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Principal = Rs. 10200
Rate = 12.5 %
A = Rs. 19125
Time period = ?
Formula used:
Simple interest = \(P \times R \times T \over 100\)
where P = Principal amount
R = Rate
T = Time period
S.I. = A - P
Calculation:
S.I. = 19125 - 10200 = 8925
S.I. = \(10200 \times 12.5 \times T \over 100\)
8925 = \(10200 \times 12.5 \times T \over 100\)
T = \(8925 \times 100 \over 10200 \times 12.5\)
⇒ 7 years
∴ The time in which a sum of Rs. 10200 amounts to Rs. 19125 at the rate of 12.5 percent per annum at simple interest is 7 years.
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