In how many years will ₹ 3,500 amount to ₹ 4,130 at 6% per annum at simple interest?
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Simple Interest (I) = The interest paid on the original sum of money borrowed or invested.
I = (P × R ×T)/100
Principal (P) = The sum of money lent, borrowed or invested.
Time (T) = The duration for which the sum of money is lent invested , usually in years.
Rate(R) = The interest paid on ₹ 100 per unit of time ,usually per annum (p.a).
Amount (A)= The sum of the principal and the interest.A = P + I
SOLUTION :
Option B is Correct = 3 Years
GIVEN : P = ₹3500, A= ₹4130, R = 6%,
Let the time be T years.
I = A - PI = 4130 - 3500
I = ₹ 630
I = (P × R ×T)/100
630 = (3500 × 6 × T)/100
630 × 100 = 3500 × 6 × T
63000 = 3500 ×6 × T
T = 63000 /( 3500 ×6)
T = 630/ 35×6
= 105/35 = 3 Years.
Hence, the required time = 3 Years .
HOPE THIS WILL HELP YOU...
I = (P × R ×T)/100
Principal (P) = The sum of money lent, borrowed or invested.
Time (T) = The duration for which the sum of money is lent invested , usually in years.
Rate(R) = The interest paid on ₹ 100 per unit of time ,usually per annum (p.a).
Amount (A)= The sum of the principal and the interest.A = P + I
SOLUTION :
Option B is Correct = 3 Years
GIVEN : P = ₹3500, A= ₹4130, R = 6%,
Let the time be T years.
I = A - PI = 4130 - 3500
I = ₹ 630
I = (P × R ×T)/100
630 = (3500 × 6 × T)/100
630 × 100 = 3500 × 6 × T
63000 = 3500 ×6 × T
T = 63000 /( 3500 ×6)
T = 630/ 35×6
= 105/35 = 3 Years.
Hence, the required time = 3 Years .
HOPE THIS WILL HELP YOU...
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