Question

Angela deposited Rs 15000 in a bank at a rate of 9 p.c.p.a. She got simple interest amounting to Rs 5400. For how many years had she deposited the amount?

Answer 1

Here, P = Rs 15000, R = 9 p.c.p.a., I = Rs 5400

Now, I = (P x R x T)/100

∴ 5400 = (15000 x 9 x T)/100

∴ T = (5400 x 100)/(15000 x 9)

∴ T = 4 

∴ Angela had deposited the amount for 4 years