1. Angela deposited 15000 rupees in a bank at a rate of 9 p.c.p.a. She got simple interestamounting to 5400 rupees. For how many years had she deposited the amount?
Question
- Angela deposited 15000 rupees in a bank at a rate of 9 p.c.p.a. She got simple interestamounting to 5400 rupees. For how many years had she deposited the amount?
Solution
To solve this problem, we need to use the formula for simple interest which is:
I = PRT/100
where: I = Interest P = Principal amount (the initial amount of money) R = Rate of interest T = Time period
In this case, we know that: P = 15000 rupees R = 9% per annum I = 5400 rupees
We need to find T. So, we rearrange the formula to solve for T:
T = I * 100 / (P * R)
Substituting the given values:
T = 5400 * 100 / (15000 * 9)
Calculating the above expression gives:
T = 4 years
So, Angela had deposited the amount for 4 years.
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