Question
Download Solution PDFIn how much time will a sum of Rs. 5250 amounts to Rs. 9870 at the rate of 11 percent per annum at simple interest?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Sum = Rs. 5250
Amount = Rs. 9870
Rate = 11%
Concept used:
S.I = (P × T × R)/100
Here,
P = Sum
T = Time
R = Rate
Amount = Sum + S. I
Calculation:
Interest = 9870 - 5250
⇒ 4620
Now,
Let the time be T years
4620 = (5250 × T × 11)/100
⇒ 420 = 210T/4
⇒ T = 4 × 2 = 8
So, time is 8 years
∴ The required time is 8 years.
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