Multiple choice

In how much time will a sum of Rs. 5250 amounts to Rs. 9870 at the rate of 11 percent per annum at simple interest ?

  1. 8 years

  2. 14 years

  3. 12 years

  4. 15 years
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Simple Interest = Principal × Rate × Time. Here: SI = 9870-5250 = Rs.4620, P = Rs.5250, R = 11%. Using the formula: 4620 = 5250 × 0.11 × T. Therefore, T = 4620/(5250 × 0.11) = 4620/577.5 = 8 years. After 8 years at 11% simple interest, Rs.5250 will amount to Rs.9870.

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