Question

In what time rs 5000 will yield rs 1100 at 11/2%

Answer 1

Answer:

Principal Amount = Rs. 5000

Rate of Interest = 6.5 %

Time period = ?

Simple Interest = Rs. 1100

We know the formula that,

Simple Interest = PRT / 100

Substituting in the formula we get,

1100 = 5000 × 6.5 × T / 100

=> 1100 × 100 = 32500 T

=> 110000 / 32500 = T

=> 3.38 = T

Hence it can be estimated to be 3.3 years.

Hence the time period is 3.3 years