Rakesh has invested ₹18,000 at a rate of interest of 12.5% per year. After how many years his simple interest becomes half of the principal?

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Solution

The correct option is B 4
Principal (P) = ₹18,000
Rate of interest (R) = 12.5% per year
Let us assume, time period for which interest to be paid be N years
Given:
Interest = 0.5 × Principal
= 0.5 × ₹18,000
= ₹9,000

I = $\frac{P N R}{100}$
⇒ ₹9,000 = $\frac{18, 000 \times 12.5 \times N}{100}$
⇒ N = 4 years

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Rakesh has invested ₹18,000 at a rate of interest of 12.5% per year. After how many years his simple interest becomes half of the principal?

The correct option is B 4Principal (P) = ₹18,000 Rate of interest (R) = 12.5% per year Let us assume, time period for which interest to be paid be N years Given: Interest = 0.5 × Principal = 0.5 × ₹18,000 = ₹9,000 I = PNR100 ⇒ ₹9,000 = 18,000×12.5×N100 ⇒ N = 4 years