Question

Calculate the time period on $Rs6000$ to earn $Rs8250$ at an interest of $15\%quarterly.$

Answer 1

$Step1$: calculate the simple interest.

$$\begin{gathered} P=Rs6000 \\ A=Rs8250 \\ R=15\%quarterly=15\times 4\%=60\%p.a. \\ SI=A-P=8250-6000=Rs2250 \end{gathered}$$

$Step2:$calculate the time period.

$T=\frac{SI\times 100}{P\times R}=\frac{2250\times 100}{6000\times 60}=\frac{5}{8}years$