Question

Question 133

In how many years, will the simple interest on a certain sum be 4.05 times the principal at 13.5% per annum ?

Answer 1

Let principal = P
R = 13.5 %
I = 4.05 times principal = 4.05 $\times$ P
T = ?
We know that, $I=\frac{P\times R\times T}{100}\Rightarrow 4.05\times P=\frac{p\times 13.5\times T}{100}\Rightarrow T=\frac{405P}{P\times 13.5}\Rightarrow \frac{405\times 10}{135}=30yr$