Question
At simple interest, a sum of Rs 6,000 becomes Rs 7,080
at 8% per annum. For how many years was the money invested?Solution
SI = Amount − Principal = 7,080 − 6,000 = 1,080 SI = (P × R × T)/100 1,080 = (6,000 × 8 × T)/100 1,080 = 480T T = 1,080 / 480 = 9/4 = 2.25 years Answer: 2.25 years (2 years 3 months).
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