Multiple choice

A sum amounts to Rs. 576 after a certain period, when reckoned at 8% per annum. If the simple interest is Rs. 126, find the time of investment.

  1. 2 1 2 years

  2. 3 years

  3. 3 1 2 years

  4. 4 years

  5. None of these
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Simple Interest (SI) = 126, Rate (R) = 8%. SI = (P * R * T) / 100. Amount = P + SI = 576, so P = 576 - 126 = 450. 126 = (450 * 8 * T) / 100. 126 = 36 * T. T = 126 / 36 = 3.5 years.

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