Multiple choice

Pranjal borrows a sum of $Rs\ 20,000$ at the rate of $5\%$ p.a. After how many years does she pay the money back if she pays an interest of $Rs\ 2500$?

  1. $3\dfrac{1}{2}\ years$
  2. $1\dfrac{1}{2}\ years$
  3. $2\dfrac{1}{2}\ years$
  4. $4\dfrac{1}{2}\ years$
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

SI = P*R*T/100. 2500 = 20000 * 5 * T / 100 => 2500 = 1000 * T => T = 2.5 years, which is 2 1/2 years.

AI explanation

Using the simple interest formula T = (S.I. × 100) / (P × R), we substitute the given values to find the time. The calculation becomes T = (2500 × 100) / (20000 × 5), which simplifies to 250000 / 100000. Solving this gives the time as 2.5 years.

Keep practicing — related questions