A sum of Rs. 12500 gives interest of Rs. 5625 in T years at simple interest. If the rate of interest is 7.5%, then what will be the value of T?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. 6 years.
| Understanding/Application |
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Principal = Rs. 12500 Rate = 7.5% Simple Interest = Rs. 5625 S.I. = PRT/100 |
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5625 = (12500 × 7.5T)/100 562500 = 93750T T = 6 years |