Multiple choice

In how many years and months will a sum of Rs. 24 becomes Rs. 56 at 16% simple interest per annum?

  1. 7 years 8 months

  2. 6 years 11 months

  3. 6 years 5 months

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

Interest = 56 - 24 = 32. Simple interest formula: 32 = (24 * 16 * T) / 100. 32 = 3.84 * T. T = 32 / 3.84 = 8.333 years. 0.333 years = 4 months. Total time = 8 years 4 months.

AI explanation

The simple interest earned is 56 minus 24, which equals Rs. 32. Using the formula T = (SI multiplied by 100) divided by (P multiplied by R), we substitute the values to get T = (32 multiplied by 100) divided by (24 multiplied by 16). This simplifies to 3200 divided by 384, which equals 25 divided by 3 years. This converts to 8 years and 4 months.

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