Multiple choice

For how long period , should Rafikbhai invest Rs.5800 at the rate of $6\%$ , so as to earn an interest of Rs.1392 ?

  1. 4 years

  2. 6 years

  3. 7 years

  4. 8 years
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Simple interest formula is I = (P*R*T)/100. Plugging in the values: 1392 = (5800 * 6 * T) / 100. 1392 = 348 * T, so T = 4 years.

AI explanation

To find the required time period, use the simple interest formula rearranged for time: T = (100 * I) / (P * R). Substituting the given values gives T = (100 * 1392) / (5800 * 6), which simplifies to 139200 / 34800. Dividing these numbers results in a time period of 4 years.

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