Multiple choice

Find the time period when simple interest on Rs. 4000 at 6% per annum will be Rs. 400.

  1. 20 months

  2. 22 months

  3. 14 months

  4. 18 months
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A Correct answer
Explanation

Using SI = (P*R*T)/100, we have 400 = (4000*6*T)/100. Solving for T gives T = 400 / 240 = 5/3 years. 5/3 years * 12 months/year = 20 months.

AI explanation

Using the simple interest formula, time equals simple interest multiplied by 100 divided by the product of principal and rate. Substituting the given values gives time equals 400 multiplied by 100 divided by the product of 4000 and 6. This equals 40000 divided by 24000, which is 5 divided by 3 years; multiplying by 12 months gives a period of 20 months.

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