Question

how long will it take to fetch a simple interest of ₹ 1500 on ₹ 5000 at 10% p.a​

Answer 1

Answer:

Formula of Simple Interest S.I = Principal * Time * Interest Rate / 100

S.I = P * T * R /100

Substituting the given values in the above equation :

=>1500 = 5000 * T * 10/100

=> T = 1500 * 100 / (10 * 5000)

=> T = 15/5 = 3 years