In how many years will a sum of ₹4,250 yield a simple interest of ₹510 at a rate of 6% per annum?
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. 2 years.
S.I. = (P × R × T)/ 100
⇒ 510 = (4250 × 6 × T)/100
⇒ T = 51000/ 25500 = 2 years