In how much time a sum of ₹500 becomes ₹625 at the rate of 5% per annum simple interest?
Answer & explanation
Correct answer: option 1
Interest = 625-500 = 125
SI = \(\frac{PRT}{100}\)
125 = \(\frac{500× 5×T}{100}\)
T= 5 years
In how much time a sum of ₹500 becomes ₹625 at the rate of 5% per annum simple interest?
Correct answer: option 1
Interest = 625-500 = 125
SI = \(\frac{PRT}{100}\)
125 = \(\frac{500× 5×T}{100}\)
T= 5 years