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      Question

      'Aarav' deposited Rs. 5,400 in a SIP at simple interest

      of 9% p.a. If he earned Rs. 2,916 as interest, then find the duration (in years) for which the money was invested by him.
      A 8 yrs Correct Answer Incorrect Answer
      B 6 yrs Correct Answer Incorrect Answer
      C 12 yrs Correct Answer Incorrect Answer
      D 9 yrs Correct Answer Incorrect Answer

      Solution

      ATQ, Let the duration for which the money was invested be β€˜y’ years. Or, 2916 = {(5400 Γ— 9 Γ— y)/100} So, y = (2916/486) = 6 Therefore, the money was invested for 6 years.

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