Question

65. The period in which Rs. 5,500 will amount to Rs. 6,050 at 4% p.a. simple interest is
(A) 4 years
(B) 2.5 years
(C) 3 years
(D) 3.5 years

Answer 1

6050 -5500=0550 is si then

Explanation:

si=prt/ =550=5500×4× r/100=220r

• 550=220r =550/220=2.5 years

Answer 2

The period which amounts to simple interest is 2.5 years.

Explanation:

The simple interest is given by the formula:

A = P(1 + rt)

Where,

A = Final amount = Rs. 6050 (Given)

P = Initial amount = Rs. 5500 (Given)

r = (Rate of interest)/100 = 4/100 = 0.04

t = Time (in years)

On substituting the values, we get,

6050 = 5500(1 + (0.04 × t))

6050/5500 = 1 + (0.04 × t)

1.1 - 1 = 0.04 × t

0.1/0.04 = t

∴ t = 2.5 years