1.

In what time will Rs 9,500 amount to Rs 10,070 at 3 % per annum simple interest?1. 2 years2. 3 years3. 5 years4. 1 year5. 6 years

Answer» Correct Answer - Option 1 : 2 years

Given:

Principal = Rs. 9500

Amount = Rs 10,070

Rate = 3 % per annum

Formula used:

S.I = ( P × R × T)/100

Calculation:

S.I = Amount – Principal

⇒ 10,070 – 9,500

⇒ Rs. 570

570 = (9500 × 3 × T)/100

⇒ (570 × 100)/(9500 × 3) = T

⇒ T = 2 years

The required time is 2 years



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