Question

In how many years, a sum of Rs.500 at 5% per annum will amount to -
Rs.600?
(a) 3 years
(b) 4 years
(C) 5 years
(d) 6 years
​

Answer 1

Answer:

• In 4 years, a sum of Rs.500 at 5% per annum will amount to Rs.600.

Step-by-step explanation:

Given that:

• Principal = Rs 500
• Rate = 5% per annum
• Amount = Rs 600

To Find:

• Time

Formula used:

1. S.I. = A - P
2. S.I. = (P × R × T)/100

Where,

• S.I. = Simple interest
• A = Amount
• P = Principal
• R = Rate
• T = Time

Finding the simple interest:

⟶ S.I. = A - P

⟶ S.I. = 600 - 500

⟶ S.I. = 100

∴ Simple interest = Rs 100

Finding the time:

⟶ S.I. = (P × R × T)/100

⟶ 100 = (500 × 5 × T)/100

⟶ 100 = 2500T/100

⟶ 100 = 25T

⟶ T = 100/25

⟶ T = 4

∴ Time = 4 years

Answer 2

Answer:

• (b) 4 years

Step-by-step explanation:

Given

• Principal (P) = Rs.500
• Rate of interest (R) = 5 % per annum
• Amount (A) = Rs.600

To find

• Time period (T)

Solution

↪ Simple interest = Amount - Principal

• Rs.600 - Rs.500
• Rs.100

∴ S.I is Rs.100

↪ Simple interest = PTR/100

↪ Where,

• P - Principal
• T - Time period
• R - Rate of interest

↪ Substituting we get,

• 100 = 500 × T × 5/100
• 100 = 2500 × T/100
• 10000 = 2500 × T
• T = 10000/2500
• T = 4

∴ Time period is 4 years.