# In how many years shall Rs. 3,500 invested at the rate of 10% simple interest per annum, amount to Rs. 4,500?

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In how many years shall Rs. 3,500 invested at the rate of 10% simple interest per annum, amount to Rs. 4,500?
1. $2\frac {4}{7}$ years
2. $2\frac {3}{7}$ years
3. $2\frac {6}{7}$ years
4. $2\frac {5}{7}$years

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Correct Answer - Option 3 : $2\frac {6}{7}$ years

Given:

Principal = Rs. 3500

Amount = Rs. 4500

Rate of interest = 10% p.a

Formula:

SI = Prt/100

Calculation:

SI = Rs. 4500 - Rs. 3500

SI = Rs. 1000

According to the formula:

1000 = (3500 × 10 × t)/100

⇒ t = 1000/350

⇒ t = $2\frac {6}{7}$ years

∴ In $2\frac {6}{7}$ years Rs. 3,500 invested at the rate of 10% simple interest per annum, shall amount to Rs. 4,500.