Practicing Success
In how many years, will ₹5,450 amount to ₹8,175, if invested at simple interest at the rate of 12.5% per annum? |
6 5 4 3 |
4 |
Simple interest earned over all years = 8175 - 5450 = 2725 Simple Interest = \(\frac{Principal ×Rate × Time }{100}\) 2725 = \(\frac{5450 × 12.5 × Time }{100}\) Time = 4 years |