Question

Find the time in which ₹ 4,000 will amount to ₹ 4,600 at 10% per annum?

• A. 2 years
• B. 1 year
• C. 2 years
• D. 1.5 years

Answer 1

The correct option is D 1.5 years

Given that,
Amount (A) = ₹ 4600
Principal (P) = ₹ 4000
Rate (R) = 10%
$\therefore$ S.I = A - P
= ₹ (4600 - 4000)
= ₹ 600
So, the simple interest is ₹ 600.
$\therefore Time=\frac{S.I\times 100}{P\times R}$
$=\frac{600\times 100}{4000\times 10}$
$=\frac{3}{2}$
= 1.5 years
Hence, the time taken is 1.5 years.