Question

In how many years will Rs.15,000 become Rs.19,500 at 5% simple interest per annum?

• A. 4 years
• B. 8 years
• C. 5 years
• D. 6 years

Hint:

First find simple interest by subtracting principal from amount, then apply the SI formula.

Answer 1

The Correct Option is D

Concept: Simple Interest Formula: \[ SI = \frac{P \times R \times T}{100} \] Explanation: Principal $P = 15000$ Amount = 19500 So, Simple Interest: \[ SI = 19500 - 15000 = 4500 \] Using formula: \[ 4500 = \frac{15000 \times 5 \times T}{100} \] \[ 4500 = 750T \Rightarrow T = 6 \text{ years} \]