Question

Find the time ₹500 will yield ₹105 interest at 3 %

Answer 1

Answer:

Principal = Rs.500

Simple interest = Rs.105

Rate of interest =

Formula :SI = \frac{P \times T \times R}{100}

105 = \frac{500  \times T \times 3.5}{100}

\frac{105 \times 100}{500 \times 3.5}=T

6= T

Hence the time of rs 500 yields rs 105 interest at 3 1/2 % pa is 6 years