How much time will it take a principal of ₹640 to yield ₹768 as an amount at 2.5% simple interest per annum?
Answer & explanation
Correct answer: option 2
Total SI of ' t ' years = 768 - 640 = 128
Simple Interest = \(\frac{Principal ×Rate × Time }{100}\)
128 = \(\frac{640 × 2.5 × t }{100}\)
t = 8 years