Multiple choice

In 4 years, Rs 6500 amounts to Rs 8840 at a certain rate of interest. In what time will Rs 1600 amounts to Rs 1816 at the same rate?

  1. $3 years$
  2. $1.5 years$
  3. $2 years$
  4. $2.5 years$
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Simple interest for 4 years = 8840 - 6500 = 2340. SI = P * r * t / 100. 2340 = 6500 * r * 4 / 100. 2340 = 260 * r. r = 2340 / 260 = 9%. Now, for 1600 to 1816: SI = 216. 216 = 1600 * 0.09 * t. 216 = 144 * t. t = 216 / 144 = 1.5 years.

AI explanation

First, find the interest rate from the first scenario where the interest is 8840 - 6500 = 2340, so R = (2340 × 100) / (6500 × 4) = 9%. In the second scenario, the interest is 1816 - 1600 = 216. Using the time formula T = (SI × 100) / (P × R), we calculate T = (216 × 100) / (1600 × 9) = 1.5. The required time is 1.5 years.

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