Question

a man deposit rupees 5000 in a bank at 10% at simple interest. find the number of years taken to get an interest of Rupees 1500?

Answer 1

no of years is 3 years

Answer 2

I=PNR

$1500 = 5000 \times n \times \frac{12}{100}$

1500=50×N×12

600 N=1500

$n = \frac{1500}{600} = 2 \frac{1}{2 \: } years$