In what time will a sum of ₹8000 amount to ₹8360 at 6% per annum simple interest?

(a) 8 months
(b) 9 months
(c) $1 \frac{1}{4}$ months
(d) $1 \frac{1}{2}$ years

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Solution

It is given that,
Amount = ₹8360
Sum = ₹8000

Simple interest (I) = Amount − Sum = ₹8360 − ₹8000 = ₹360

Also,
Rate (R) = 6%
Time (T) = T years

$I = \frac{P \times R \times T}{100} \Rightarrow T = \frac{100 \times I}{P \times R} = \frac{100 \times 360}{8000 \times 6} = \frac{3}{4} years = \frac{3}{4} \times 12 months = 9 months$

Hence, the correct option is (b).

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In what time will a sum of ₹8000 amount to ₹8360 at 6% per annum simple interest? (a) 8 months (b) 9 months (c) 114 months (d) 112 years

It is given that, Amount = ₹8360 Sum = ₹8000 Simple interest (I) = Amount − Sum = ₹8360 − ₹8000 = ₹360 Also, Rate (R) = 6% Time (T) = T years I=P×R×T100⇒T=100×IP×R =100×3608000×6 =34 years =34×12 months =9 months Hence, the correct option is (b).

In what time will a sum of ₹8000 amount to ₹8360 at 6% per annum simple interest?

(a) 8 months
(b) 9 months
(c) $1 \frac{1}{4}$ months
(d) $1 \frac{1}{2}$ years