Question 66
How much time will it take for an amount of ₹360 to yield ₹72 asinterest at 5% p.a. of simple interest?
Solution
Given, Principal = Rs.360
Rate of interest = 5% per annum
Let time period = T years
Simple Interest = Rs.72
$$\dfrac{360\times5\times T}{100} = 72$$
=> $$T = 4$$
Therefore, Time period = 4 years
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