How much time will it take for an amount of Rs. 650 to yield Rs. 91 as interest at 5.5% per annum of simple interest?
Answers
2 years and 6 months.
Given :-
S.I = Rs.91
Rate of interest (R) = 5.5% p.a
Principal (P) = Rs.650
Time (T) = ?
S.I = (P × R × T) ÷ 100
91 = 650 × 5.5 ×T ÷100
91 = 3575 × T ÷ 100
91 × 100 = 3575 × T
9100 = 3575 × T
T = 9100 ÷ 3575
T = 2* 1/2 .i.e 2 years 6 months
Given - Principal, interest and rate
Find - Time
Solution - 2.5 years is needed to yield Rupees 91 as interest as per the given information.
Time can be calculated by the formula -
Simple interest = Principal*rate of interest*time/100
Time = 91*100/(650*5.5)
Performing multiplication to find the time.
Time = 9100/3574
Performing division to find the time
Time = 2.5 years
So, 2.5 years is needed to yield Rupees 91 as interest as per the given information.