Question 30

What should be the least number of years in which the simple interest on Rs.2600 at $$6\frac{2}{3}$$% will be an exact number of rupees ?

Solution

Let the number of years be 'x'

Simple Interest on Rs.2600 at 6$$\frac{2}{3}$$% interest is

$$\frac{2600\times x\times(\frac{20}{3})}{100}$$

= $$\frac{520x}{3}$$

So 'x' should be 3,6,9,.... for exact number

$$\therefore$$ Least value of 'x' = 3

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