The sum of Rs.1500 is invested at simple interest for x months. If the rate of interest is x/8% per annum, then the sum grows to Rs.1590. What is the value of x?
Show answer & explanation
Correct answer: D
Explanation
Correct Answer is option 4 i.e. 24
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Understanding |
Application |
Calculation |
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Given: P = Rs. 1500 R = x/8% T = x months = x/12 years SI = 1590 – 1500 = Rs. 90 |
We know that: SI = PRT/100 So, 90 = (1500 × x × x)/(12 × 8 × 100) ⇒ x = 24 months |
90 = (1500 × x × x)/(12 × 8 × 100) 90 = 15x2/96 ⇒ x2 = 96 × 6 ⇒ x2 = 576 ⇒ x = 24
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