In how many years does the sum of ₹1200 become ₹1800 at the rate of simple interest of 5% per annum?

Given :

Principal (P)$= ₹1200$.

Amount (A)$= ₹1800$.

Rate of interest (R)$=5$%.

To do :

We have to find the time period.

Solution :

Simple interest $= \frac{PnR}{100}$

Simple interest $=$ Amount $-$ Principal.

                           $ = 1800 - 1200 = 600$.

$600 = \frac{1200 \times n \times 5}{100}$

$\frac{600\times 100}{1200 \times 5} = n$

$n = \frac{100}{2 \times 5}$

$n = \frac{100}{10}$

$n = 10$

Therefore, the time period is 10 years.

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Updated on: 10-Oct-2022

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