Maths-
General
Easy
Question
In how many years will a sum of Rs 5000 yield a simple interest of Rs 250 at the rate of 5% per annum?
Hint:
Use the formula for simple interest and then find the number of years.
The correct answer is: Rs 250
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 = 5%,SI = 250,P = 5000 and T = ?
On substituting the known values in (i), we get 
Hence, the sum of Rs 5000 earns a simple interest of Rs 250 in one year.
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