Multiple choice

In what time will Rs. 500 give Rs. 50 as interest at the rate of 5% p.a. simple interest?

  1. 2 years

  2. 3 years

  3. 4 years

  4. 5 years
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

I = PRT/100. 50 = (500 * 5 * T) / 100. 50 = 25 * T. T = 2 years.

AI explanation

Using the simple interest formula, Time = (Interest * 100) / (Principal * Rate). Plugging in the given values results in Time = (50 * 100) / (500 * 5). This simplifies to 5000 / 2500, which equals 2 years.

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