Question

In how many years will ₹ 950 produce ₹399 as simple interest at 7%

Answer 1

Given:

The sum of money = ₹ 950

Simple Interest = ₹ 399

The rate of interest = 7%

To find:

No. of years

Solution:

To solve the given problem, we will use the following formula:

$\boxed{\bold{S.I. = \frac{P\times T\times R}{100} }}$

where

"P" = Sum of money (in rupees)

"T" = Time period (in years)

"R" = Rate of interest (in %)

Now, we will substitute the P = ₹ 950, R = 7% & S.I. = ₹ 399 in the above formula,

∴ $399 = \frac{950\times T \times 7}{100}$

$\implies 39900 = 950\times T \times 7$

$\implies T = \frac{39900 }{950 \times 7}$

$\implies T = \frac{39900 }{6650}$

$\implies \bold{T = 6 \:years}$

Thus, in 6 years will ₹ 950 produce ₹399 as simple interest at 7%.

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Answer 2

Answer:

Given:

The sum of money = ₹ 950

Simple Interest = ₹ 399

The rate of interest = 7%

To find:

No. of years

Solution:

To solve the given problem, we will use the following formula:

where

"P" = Sum of money (in rupees)

"T" = Time period (in years)

"R" = Rate of interest (in %)

Now, we will substitute the P = ₹ 950, R = 7% & S.I. = ₹ 399 in the above formula,

∴  

Thus, in 6 years will ₹ 950 produce ₹399 as simple interest at 7%.

Step-by-step explanation: