How much time it will take for an amount of Rs.4000 to yield RS.450 as interest at 5% per annum of simple interest?2.25years3years2years3.5years
Question
How much time it will take for an amount of Rs.4000 to yield RS.450 as interest at 5% per annum of simple interest?2.25years3years2years3.5years
Solution
To calculate the time it will take for an amount to yield a certain interest at a specific rate of simple interest, you can use the formula for simple interest:
I = PRT/100
where: I = Interest P = Principal amount (the initial amount of money) R = Rate of interest T = Time
In this case, you are given: I = Rs. 450 P = Rs. 4000 R = 5%
You are asked to solve for T. Rearranging the formula to solve for T gives you:
T = I * 100 / (P * R)
Substituting the given values into this formula gives you:
T = 450 * 100 / (4000 * 5)
Calculating this gives you:
T = 2.25 years
So, it will take 2.25 years for an amount of Rs. 4000 to yield Rs. 450 as interest at 5% per annum of simple interest.
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