Multiple choice

A certain sum is to be invested for a certain time at simple interest at $9\%$ p.a., such that there is an increase of $36\%$ in the sum. Find the time.

  1. $\displaystyle 5\frac{1}{9}$ years
  2. $4$ years
  3. $8$ years
  4. $\displaystyle 4\frac{1}{9}$ years
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B Correct answer
Explanation

Increase of 36% means Simple Interest = 0.36 * Principal. SI = (P * R * T) / 100. 0.36P = (P * 9 * T) / 100. 36 = 9T. T = 4 years.

AI explanation

Using the formula Time = (Percentage Increase * 100) / (Rate * 100), we can directly substitute the given percentage increase and rate. This gives Time = (36 * 100) / (9 * 100), which simplifies to 36 / 9. Solving this yields 4. The result is 4 years.

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