Question

12½% interest is to be paid if an electricity bill is not deposited in time.shanker's electricity bill was for rs 350. He paid rs 1600 due to late payment. how many years after the Bill was paid​

Answer 1

Answer:

After 28.5 years the Bill was paid​

Step-by-step explanation:

Let

             $Principle(P)=350\\ \\ Rate=\frac{25}{2} \\ \\ Time=t\\ \\ Interest=1600-350=1250$

We know,

                $Interest=\frac{P \cdot R \cdot T}{100} \\ \\ 1250=\frac{350 \cdot 12.5 \cdot t}{100} \\ \\ t=\frac{1250 \cdot 100 }{350 \cdot 12.5} \\ \\ t=\frac{125000}{4375} \\ \\ t=28.5 yr$