Question

In how much time Rs 300 will give interest of Rs 21 at 7/2 % per annum?

Answer 1

$\sf \underline{Answer}$

Given:-

• Time = ?
• principal = ₹300
• Interest = ₹21
• rate = 3.5%

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Using the simple interest formula,

$\sf \: i = \frac{p \times r \times t}{100}$

$\rightarrow \sf \: 21 = \frac{300 \times 3.5 \times t}{100}$

$\rightarrow \sf t = \frac{7}{3.5}$

$\rightarrow \sf t = 2years$

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Answer 2

I = p×r×t/100

= 21 = 300× 3.5 × t/100

= t = 2

therefore time taken will be 2 years