Question

In 4 years, Rs 6500 amounts to Rs 8840 at a certain rate of interest. In what time will Rs 1600 amounts to Rs 1816 at the same rate?

• A. $3years$
• B. $1.5years$
• C. $2years$
• D. $2.5years$

Answer 1

The correct option is B $1.5years$

In $4$ years, Rs. $6500$ amounts to Rs. $8840$ at a certain rate of interest.

Let rate of interest $=r$% per annum

Here, Principal $P=6500$

Interest $=8840-6500=2340$

Time $t=4$ years

Simple interest $=\frac{P\times r\times t}{100}$

$2340=\frac{6500\times r\times 4}{100}$

$2340=260r$

$\Rightarrow r=9$

Let, in $t$ years, Rs. $1600$ amounts to Rs. $1816$

Then interest $=1816-1600=216$

Simple interest $=\frac{P\times r\times t}{100}$

$216=\frac{1600\times 9\times t}{100}$

$216=144t$

$\Rightarrow t=\frac{3}{2}=1.5$ years