Question

Find the time when ₹21000 gives an interest of ₹5040 at 6/per annum

Answer 1

Given , sum (p ) = ₹21000

rate = 6 % per annum ,

interest (S.I) = ₹5040

Find the time :
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Simple interest(S.I) = p × r × t / 100

5040 = 21000 × 6 × t / 100

t = 5040 /210 × 6

t = 504 / 126

t = 4 years

therefore ,

the sum ₹ 21000 will give an interest of ₹ 5040 at the rate of 6 % per annum in 4 years .

Answer : required time = 4 yrs

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Answer 2

Find interest for 1 year:

Interest = 6% x ₹21000

Interest = 0.06 x 21000 = ₹1260

Find the number of years to earn ₹5040

1 year = ₹1260

Number of years needed = 5040 ÷ 1260 = 4

Answer: 4 years