In how much time will a sum of ₹5,000 invested at the rate of 15% simple interest per annum amount to ₹6,500?

2.5 years 1 year 1.5 years 2 years

2 years

Amount = Principal + Simple Interest 6500 = 5000 + Simple Interest Simple Interest = 6500 - 5000 = 1500 We know , Simple Interest = \(\frac{Principal ×Rate × Time }{100}\) 1500 = \(\frac{5000 × 15 × Time }{100}\) Time = 2 years