In how many years will a sum of Rs.5,000 yield a simple interest of Rs.2,000 at an interest rate of 10% p.a?
Show answer & explanation
Correct answer: D
Explanation
The correct answer is Option 4 i.e 4 years.
| Understanding/Application |
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Simple interest = 2000 Principal = 5000 Rate = 10% |
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SI = (p × r × t)/100 2000 = (5000 × 10 × t)/100 200000/50000 = t t = 4 years |