Simple Interest Practice Test 3

Question : 32 of 40

Marks: +1, -0

The simple interest on Rs 360 at 5% rate of interest is one-fourths of the principal. What is the time period?

Solution:

P = Rs 360, SI =

1/4

of 360 = Rs 90
R = 5%
∴ Time

={100 ×SI}/{P ×R}

={ 100× 90 }/ {360 ×5}

= 5 years

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