In what time will Rs. $3{,}000$ amount to Rs. $3{,}900$ at $6\%$ simple interest per annum?
In what time will Rs. $3{,}000$ amount to Rs. $3{,}900$ at $6\%$ simple interest per annum?
- $4$ years
- $5$ years
- $6$ years
- $7$ years
Solution
SI $= 3900 - 3000 = 900$. $T = \dfrac{100 \cdot \text{SI}}{P \cdot R} = \dfrac{100 \cdot 900}{3000 \cdot 6} = 5$ years.
Asked in: IMO
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