Question
Download Solution PDFIn what duration (in years) will ₹1,500 amount to ₹2,250 at simple interest 10% per annum?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Principal (P) = ₹1,500
Amount (A) = ₹2,250
Rate (R) = 10% per annum
Formula used:
Simple Interest (SI) = P × R × T / 100
Amount (A) = P + SI
Calculations:
2250 = 1500 + 1500 × 10 × T / 100
⇒ 2250 = 1500 + 150 × T
⇒ 2250 - 1500 = 150 × T
⇒ 750 = 150 × T
⇒ T = 750 / 150
⇒ T = 5
∴ The correct answer is option (2).
Last updated on Jun 3, 2025
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