Multiple choice

In what time will Rs. $1860$ amount to Rs. $2641.20$ at $12\%$ p.a. simple interest?

  1. $3$ yr $6$ months
  2. $2$ yr
  3. $2$ yr $6$ months

  4. none of these
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A Correct answer
Explanation

Interest = 2641.20 - 1860 = 781.20. Using I = PRT/100: 781.20 = (1860 * 12 * T) / 100. 781.20 = 223.2 * T. T = 781.20 / 223.2 = 3.5 years, which is 3 years and 6 months.

AI explanation

First, find the simple interest by subtracting the principal from the amount, which is 2641.20 minus 1860, equaling 781.20. Using the formula Time equals Simple Interest times 100 divided by the product of Principal and Rate, we get Time equals 781.20 times 100 divided by 1860 times 12. This simplifies to 78120 divided by 22320, which equals 3.5 years, or 3 years and 6 months.

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