Question

5. A shopkeeper borrows Rs.9500 from his friend at 8% p.a. and repays Rs.11,020. After how many years did he repay ??​

Answer 1

SI =P×R×T/100

T =SI×100/P×R

SI =Amount -Principal

SI =11020-9500

SI = 1520

T =1520 ×100/9500×8

T =152000/76000

T = 2

So he repaid the money after 2 years.