Question

Priya gives an interest of 31.25 on the sum of 5000. If the rate of interest is 25% per annum, find the time.​

Answer 1

Given :

Simple interest : ₹31.25

Principle : ₹5000

Rate of interest : 25%

To find :

The time taken to return the money back

Solution :

To find the time, we use the formula of simple interest.

$\sf \dashrightarrow SI = \dfrac{P \times R \times R \times T}{100}$

$\sf \dashrightarrow 31.25 = \dfrac{5000 \times 25 \times T}{100}$

$\sf \dashrightarrow 31.25 = \dfrac{5000 \times 1 \times T}{4}$

$\sf \dashrightarrow 31.25 = \dfrac{5000 \times T}{4}$

$\sf \dashrightarrow 31.25 = \dfrac{5000T}{4}$

$\sf \dashrightarrow T = \dfrac{31.25 \times 4}{5000}$

$\sf \dashrightarrow T = \dfrac{1 \times 4}{160}$

$\sf \dashrightarrow T = \dfrac{4}{160}$

$\sf \dashrightarrow T = 0.025 \: years$

Hence, the time taken to return the money back is 0.025 years.