Simple Interest Practice Test 1

Question : 17 of 40

Marks: +1, -0

If simple interest on any amount is equal to 40% of the principal in 4 years, then after how many years will simple interest be equal to the principal.

12 years
10 years
15 years
16 years
17 years

Validate

Solution:

Let the principal = Rs P
Then, SI = 40% of P

=40/100P=2/5P

Time = 4 years

∴\Rate ={100×SI}/{P×T}

=100×{2P}/5×1/P×1/4=10%

Now, P = SI, R = 10%

∴\Time ={100×P}/{P×10}=10\years

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