Question

Find in what time :
$Rs300$ will yield $Rs60$ interest at $5\%p.a$

Answer 1

Given that,

$P=Rs.300$

$R=5$% p.a

$S.I=Rs.60$

$T=?$

$\because S.I=\frac{PTR}{100}$

$⟹60=\frac{300\times T\times 5}{100}$

$⟹60=15T$

$⟹T=\frac{60}{15}$

$⟹T=4$

$\therefore Time=4years$