Question

find the time when simple interest on rupees 3.3 lakh at 6.5 % per annum is 75075

Answer 1

Answer:

The time is 3.5 years

Step-by-step explanation:

Simple Interest formula is

$SI = \frac{(\, P \times R \times T)\,}{100}$

where, P = Principal amount, R = Rate of interest and T = Time in years

We have

SI = Rs 75075

P = Rs 330000

R = 6.5% per annum

Time is calculated by substituting the values in formula for Simple Interest

$75075 = \frac{(\,330000 \times 6.5 \ times T)\,}{100}\\\\T = \frac{75075 \times 100}{330000 times 6.5}\\\\ T = \frac{7507500}{2145000}\\\\ T = 3.5 \hspace{0.1cm}years$

Thus, time is 3.5 years