In how many years will Tk. 750 amount to Tk. 900 at 4% simple interest per annum?

A

3.5 years

B

3 years

C

4.5 years

D

5 years

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Question: In how many years will Tk. 750 amount to Tk. 900 at 4% simple interest per annum?

Solution:
Simple Interest = Amount - Principal
= 900 - 750
= 150

Here,
Principal, P = 750
Interest Rate, R = 4%
SI = 150
Time, T = ?

SI = PRT/100
  T = (SI × 100)/(P × R)
= (150 × 100)/(750 × 4)
= 15000/3000
= 5 years

 

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Updated: 8 hours ago

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