New RBI Grade B 2025 Notification will come Soon! Enroll Here

    Question

    An amount of Rs. 2,500 invested at a simple interest

    rate of r% per annum grows to Rs. 4,930 in 6 years. Using the same rate of interest, in how many years will Rs. 600 grow to Rs. 818.70 under simple interest?
    A 2 years Correct Answer Incorrect Answer
    B 1.75 years Correct Answer Incorrect Answer
    C 2.5 years Correct Answer Incorrect Answer
    D 2.25 years Correct Answer Incorrect Answer

    Solution

    ATQ; 4930 - 2500 = {(2500 X r X 6)/100}

    Or, 2430 X 100 = 2500 X r X 6

    So, r = 16.2

    Let required number of years be 't'.

    So, (818.7 - 600 = {(600 X 16.2 X t)/100}

    Or, 218.7 X 100 = 600 X 16.2t

    Or, t = 2.25

    So, in 2.25 years Rs. 600 will amount to Rs. 818.7

    Practice Next

    Relevant for Exams: