How much time will it take for an amount of Rs. 450 to yield Rs. 81 as interest at 4.5% per annum calculated at simple interest?
The correct option is B: 4 years
Given: Principal, P=Rs. 450.
Rate, R=4.5% per annum
Simple Interest, S.I=Rs. 81.
Let the time taken be t years. Then,
S.I=P×R×t100
⇒81=450×4.5×t100
⇒t=100×81450×4.5
⇒t=100×945×5
⇒t=100×15×5
⇒t=10025=4 years