Question

find the number of year to get rupees 1530 as interest on a loan of Rupees 1500 at 4% for per annum
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Answer 1

Answer:

The simple interest to the sum Rs. 15,000 for 2 years at a rate of interest 5% per annum is

S.I.=

100

PRT

⇒

100

15,000×2×5

=1,500.

The interest will be Rs. 1,500

and the amount at the end of 2 years.

=P+I=15000+1500= Rs. 16,500