Question

# In what time will Rs 10000 earn an interest of Rs. 12600 at 18% per annum simple interest?

Hint:

### Use the formula for simple interest and then find the number of years T.

## The correct answer is: Rs 12600

### Complete step by step solution:

We calculate simple interest by the formula,…(i)

where P is Principal amount, T is number of years and R is rate of interest

Here, we have R = 18% ,SI = 12600, P = 10000 and T = ?

On substituting the known values in (i), we get

In 7 years, Rs 10000 earns an interest of Rs 12600 at 18% per annum simple interest.

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