What is the time period for which Rs. 8000 amounts to Rs. 12000
Posted on 14-04-2023
Ques - What is the time period for which Rs. 8000 amounts to Rs. 12000 at 20% p.a. of simple interest?
(a) 4 years
(b) 2.5 years
(c) 3.25 years
(d) 6 years
Solution -
Given,
P = 8000
R = 20%
T = ?
S.I = 12000 - 8000
S.I = 4000
S.I = (P×R×T) / 100
4000 = ( 8000 × 20 × T ) / 100
4000 = 1600 × T
T = 4000/1600
T = 2.5
Therefore,
The time period is 2.5 years.
Hence,
The correct answer is option (b) 2.5 years.
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