Question

In what time will Rs. 500 amount to Rs. 620 at 6% p.a. simple interest ?
(1) 3 years
(2) 4 years
(3) 5 years
(4) 6 years.
​

Answer 1

$\textbf{\underline{\underline{Answer :-}}}$

Option. (2) – 4 years

In 4 years Rs. 500 will amount to Rs. 620 at 6% p.a. simple interest.

$\textbf{\underline{\underline{Explanation :-}}}$

Given :

Money = Rs. 500

Amounts to = Rs. 620

At the Rate of = 6 % p.a

To find :

In how much time Rs. 500 will amount to Rs. 620 at 6% p.a. simple interest

Solution :

Here,

Principal (P) = Rs. 500

Amount = Rs. 620

Rate = 6 %

Simple Interest = Amount - Principal

${\rightarrow{\tt{620 - 500}}}$

${\rightarrow{\tt{120}}}$

Simple Interest = Rs.120

As we know,

${\boxed{\sf\:{ SI = \frac{Principal \times Rate \times Time}{100}}}}$

$\sf{\implies120 = \dfrac{500 \times 6 \times T}{100} }$

$\sf{\implies120 \times 100 = 3000 \times T}$

$\sf{\implies12000 = 3000 \times T}$

$\sf{\implies \: T = \dfrac{12000}{3000}}$

$\sf{\implies \: T = \dfrac{12 \: {\cancel{000}}}{3 \: {\cancel{000}}}}$

$\sf{\implies \: T =4}$

${\boxed{\bigstar{\sf\:{Time = 4 \: years}}}}$

$\therefore$The time is 4 years.

In 4 years Rs. 500 will amount to Rs. 620 at 6% p.a. simple interest.

Therefore, answer is

Option (2) – 4 years

Answer 2

Answer is Option 2

Wondering how ?? Explanation is here for you !!

SI = A - P

=> 620 - 500

=> 120

SI = 120 We know the SI

So,

=> T = SI × 100/P × R

=> T = 100 × 120/500 × 6

=> T = 12000/3000=> T = 4

Answer is the

4 years