Question

Find in what time :
$Rs500$ will yield $Rs105$ interest at $3\frac{1}{2}\%p.a$

Answer 1

Given that,

$P=Rs.500$

$R=3\frac{1}{2}=\frac{7}{2}$% p.a

$S.I=Rs.105$

$T=?$

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

$⟹105=\frac{500\times T\times 7}{100\times 2}=\frac{35T}{2}$

$⟹210=35T$

$⟹T=\frac{210}{35}$

$⟹T=6$

$\therefore Time=6years$