RRB Paramedical Staff Nurse Model Paper 6

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Question : 45 of 100

Marks: +1, -0

In how many years will a sum of Rs. 3000 yield a simple interest of Rs. 1080 at 12% per annum?

3
2(1/2)
2
3(1/2)

Solution:

Given,

\P=3000, \SI=1080, \R=12%

Thus

S I=\;{\;\text " Principal "\; × \;\text " Rate "\; × \;\text " Time "\;}/{100}

Time

=\;{\SI × 100}/{\;\text " Principal "\; × \;\text " Rate "\;}

=\;{1080 × 100}/{3000 × 12}=3 y r

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