A sum of Rs. 10640 gives interest of Rs. 3724 in x years at 5% simple interest. What will be the value of x ?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. 7 years
SI = Principal × Rate × Time/100
⇒ 3724 = 10640 × 5 × x/100
⇒ x = 372400/10640 × 5
x = 7 years.