Simple interest on a certain sum is 1625 times of the sum invested. If the rate percent and time are numerically equal, then find the time .
The correct option is A 8 years
Let the sum invested be ₹ x.
So, the interest earned = ₹ 1625x.
Let the time period be T years.
So, the rate of interest = T% p.a. as the both time period and rate of interest are equal.
The Simple Interest earned on a sum of ₹ P for a period of T years at the rate of R% p.a is given by S.I=P× R× T100.
By substituting given values, we get
So, 16x25=x× T× T100
Since time cannot be negative,
we have time T=8 years.
Hence, the correct option is A.