How much time (in years) will it take for an amount of Rs. 450 to yield Rs. 162 as interest at 4.5%

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07 Feb 2020 Simple Interest

How much time (in years) will it take for an amount of Rs. 450 to yield Rs. 162 as interest at 4.5% per annum of simple interest?

OPtion

1) 2
2) 3
3) 4
4) 3.5
5) 4.5
6) 5.5
7) 5
8) 6.5
9) 8
10) None of these

Solution

SI = PRT/100
162 = 450*4.5*T/100
=> T =8

Correct Option: 9 Best Solution (3)