Question

In how many years Rs. 50 will amount to Rs. 55 at 4 % per annum rate of interest ​

Answer 1

Answer:

Step-by-step explanation:

We know,Simple interest(S.I.) = P×R×T/100

(Here,P = Principal i.e. amount deposited,R = rate of interest per annum,T = time)

Also,Amount(A) = P + S.I.

Here,P = ₹50, A=₹55,R =₹4% ,T = ?

=>55 = 50 + 50 × 4 × T/100(We haveput the values in the formula of amount)

=>55 = 50 + 200 × T/100 = 50 + 2T

=>5 = 2T => T = 2.5 yrs.ans.