In 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 & explanation
Correct answer: option 4
Principal = Rs 10200
Amount = Rs 19125
Interest= Amount - Principal
= 19125-10200
= Rs 8925
Rate = 12.5%
Interest= \(\frac{Principal ×Rate ×Time }{100}\)
8925 = \(\frac{10200×12.5× t}{100}\)
∴ time= 7 years