Question

After what time will the sum of Rs. 2000 become Rs. 2240 at 4% annum of simple interest?
(a) 3 years
(b) 2 years
(c) 5 years
4 years
Ans.(:​

Answer 1

Answer:

3 years

t= 2240-2000/r -(1)

r=4/100×2000

r=80 -(2)

put (2) in (1)

t =2240-2000/80

t=240/80

t=3years

Answer 2

Answer:

We should find the time period for the pricipal $=Rs.2000$, rate of interset $=4\%$ and the amount $=Rs.2240$. Final Answer: Option (a): 3 years

Step-by-step explanation:

Given:

           Principal P $= Rs 2000$

Smount or Sum A $= Rs 2240$

  Rate of Interst R $= 4\%$

To find:

         Time for the above data T = ?

Solution:

Step 1:

• First we shave to find Simple Interest using Amount and Principal value.
• Formula: Simple Interest(SI) = Amount(A) - Principal(P)

                          SI = A - P

                              $= 2240 - 2000$

Simple Interest SI  $= Rs 240$

Step 2:

• Now we can find the value of time(T) using Simple Interest formula with the value of Principal, Time, Rate of Interest.
• Formula: Simple Interest(SI)  $=\frac{PTR}{100}$
• Here, P - Principal

                  T - Time

                  R - Rate of Interest

 Simple Interest $=\frac{PTR}{100}$

                     $240=\frac{2000\times T\times 4}{100}$    

Step 2:  

• Cancel 2000 in the numerator and 100 in the denominator.

                      $240=20\times T\times 4$  

Step 3:  

• Using step 2 equation we can find the value of T.

                       $T=\frac{240}{20\times 4}$

• Divide 240 in the numerator and 4 in the denominator.

                       $T=\frac{60}{20}$

• Divide 60 in the numerator and 20 in the denominator.

                       $T=3$ years

Conclusion:

• Time T = 3 years