Question

How much time will it take for ₹ 800 to yield a simple interest of ₹ 80 at $5\%$ per annum?

• A. 5 years
• B. 4 years
• C. 2 years
• D. 10 years

Answer 1

The correct option is C

2 years

Let the time taken be $t$ years. Then,

P = ₹ 800, R = 5%, SI = ₹ 80

SI = $\frac{PTR}{100}$

$80=\frac{800\times 5\times t}{100}$

$\Rightarrow t=\frac{100\times 80}{800\times 5}years=2years$