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How much time will it take for an amount of Rs. 900 to yield Rs. 81 as interest at 4.5% per annum of simple interest?

Correct answer: A. 2 years

  • A. 2 years
  • B. 3 years
  • C. 1 year
  • D. 4 years

Explanation

Simple interest is SI = P x r x t, so t = SI ÷ (P x r). Substituting Rs. 81, Rs. 900, and 4.5% = 0.045 gives t = Rs. 81 ÷ (Rs. 900 x 0.045 per year) = 2 years. Option b, 3 years, usually comes from using an incorrect interest rate or arithmetic error.

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