Question

In what time will ₹ 8000 amount to ₹ 8360 at 6% per annum simple interest?

(a) 8 months (b) 9 months (c) 1 ¼ years (d) 1½ years

Answer 1

(b) 9 months

Because,

Given: – P = ₹ 8000, A = ₹ 8368, R = 6%

We Know That,

Amount = Principal (1+ ((Rate × time)/100))

= (8360/ 8000) = 1 + ((6 × t)/100)

= (8360/ 8000) -1 = ((6 × t)/100)

= t = [(8360 – 8000)/ 8000] × (100/6)

= (360/8000) × (100/6)

= (6/8) × 12 months

= 9 months