Question

In what time will Rs. 15000, at 4% per annum, produce the same interest as Rs.6000 does in 5 years at 8% simple interest?

A 4 years Correct Answer Incorrect Answer
B 5 years Correct Answer Incorrect Answer
C 6 years Correct Answer Incorrect Answer
D 7 years Correct Answer Incorrect Answer

Solution

Let the time be t years According to the question, (15000×4×t)/100 = (6000 ×5 ×8)/100 60t = 240 t = 4years

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