In how many years a person will get a simple interest of ₹ 500 on a sum of ₹ 10,000 invested at a rate of 5p.c.p.a ?
Given
P= Rs 10,000 , S.I = ₹ 500 , R =5%
T =?
we know that
S.I = P×R×T100
500= 10,000×5×T100
T= 500×10010,000×5
T= 1 year