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In what time a sum of Rs. 4000 will yield a simple interest of Rs. 1200 at 12% per annum?
1. 1 year
2. 2.5 years
3. 3 years
4. 2 years

1 Answer

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Best answer
Correct Answer - Option 2 : 2.5 years

Given:

Principal = Rs. 4000

Rate of interest = 12%

Simple interest = Rs. 1200

Formula used:

S.I = PRT/100

Where, P = Principal

R = Rate of interest

T = Time period

Calculation:

1200 = (4000 × 12 × T)/100

⇒ 120/48 = T

⇒ 2.5 = T

∴ The required time period is 2.5 years

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