Maths-
General
Easy

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,S I equals fraction numerator P T R over denominator 100 end fraction…(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 12600 equals fraction numerator 10000 cross times T cross times 18 over denominator 100 end fraction
    table attributes columnalign right left right left right left right left right left right left columnspacing 0em 2em 0em 2em 0em 2em 0em 2em 0em 2em 0em end attributes row cell not stretchy rightwards double arrow T equals fraction numerator 12600 cross times 100 over denominator 10000 cross times 18 end fraction end cell row cell not stretchy rightwards double arrow T equals 1260000 over 180000 equals 7 end cell end table
    In 7 years, Rs 10000 earns an interest of Rs 12600 at 18% per annum simple interest.

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