Multiple choice

In how many years will Rs 870 amount to Rs 1,044, the rate of interest being 5%?

  1. 4.5 years

  2. 3 years

  3. 4 years

  4. 5 years
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Simple interest = 1044 - 870 = 174. Using SI = P*R*T/100, 174 = 870 * 5 * T / 100. T = 17400 / 4350 = 4 years.

AI explanation

Using the Simple Interest formula, we first find the interest earned which is 1044 minus 870, giving 174. Substituting into the formula Time equals Interest multiplied by 100 divided by Principal multiplied by Rate, we get Time equals 174 times 100 divided by 870 times 5. This simplifies to 17400 divided by 4350, which equals 4 years.

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