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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 ‘y’ years. Or, 2916 = {(5400 × 9 × y)/100} So, y = (2916/486) = 6 Therefore, the money was invested for 6 years.

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