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Asmita invests an amount of Rs 9535 at the rate of 4 per cent per annum to obtain a total amount of Rs 11442 on simple interest after a certain period. For how many year did she invest the amount to obtain the total sum?(a) 10 years(b) 2 years(c) 5 years(d) 4 years(e) None of these |
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Answer» (c) Let the required time = t years Simple interest = (11442 – 9535) = Rs 1907 Simple = P × T × R / 100 1907 = 9535 x 4 x t / 100 There for t = 1907 x 100 / 9535 x 4 = 5 years |
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