Question

How much time will it take for an amount of Rs. 450 to yield Rs. 81 as interest at 4.5% per annum of simple interest?
1. 4 years
2. 4.6 years
3. 6 years
4. 3.6 years

Answer 1

Correct Answer - Option 1 : 4 years

Given:

Principal = Rs. 450

Rate = 4.5%

SI = Rs. 81

Formula used:

SI = (P× R × T)/100

Calculation:

According to the question

⇒ 81 = (450 × 4.5 × T)/100

⇒ 81 = 2025T/100

⇒ 2025T = 8100

⇒ T = 4 years

∴ Required time will be 4 years