Question

    How many years will it take for ₹8,400 to amount to

    ₹11,928 at a simple interest rate of 7% per annum?
    A 8 Correct Answer Incorrect Answer
    B 5 Correct Answer Incorrect Answer
    C 2 Correct Answer Incorrect Answer
    D 6 Correct Answer Incorrect Answer

    Solution

    SI = PRT/100 SI = 11,928 − 8,400 = ₹3,528
    P = ₹8,400
    R = 7%
    T = ? T = (3528 X 100)/(8400 X 7) = 6

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