Simple Interest Practice Test 3

Question : 31 of 40

Marks: +1, -0

In four years, Rs 6,000 amounts to Rs 8,000. In what time at the same rate will Rs 525 amount to Rs 700?

Solution:

T = 4 years; P = Rs 6,000; Amount = Rs 8,000
SI = 8,000 - 6,000 = Rs 2,000

R={SI×100}/{P×T}

={2000×100}/{6000×4}=8.33%

P = Rs 525
Amount = Rs 700
SI = 700 - 525 = Rs 175
R = 8.33%

\Time ={175×100}/{525×8.33}=4\years

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