Multiple choice

In how much time would the simple interest on a certain sum be $0.3$ times the principal at $10$% per annum?

  1. $1$ year
  2. $2$ years
  3. $3$ years
  4. $4$ years
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Simple Interest = P * R * T / 100. We are given SI = 0.3P and R = 10. So 0.3P = P * 10 * T / 100. 0.3 = 0.1 * T, so T = 3 years.

AI explanation

The question states the simple interest is 0.3 times the principal, meaning I = 0.3P. Using the simple interest formula I = (P * R * T) / 100, we substitute the interest to get 0.3P = (P * 10 * T) / 100. Canceling P from both sides and solving gives 0.3 = 10T / 100, which simplifies to T = 3 years.

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