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In what time will ₹8,000, at 3% per annum, produce the same interest as ₹6, 000 does in 5 years at 4 % simple interest ?
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- 5 years
- 6 years
- 3 years
- 4 years
- 5 years
Correct Option: A
Let Required time = t years
We know that ,
| SI = | |
| 100 |
| ∴ | = | ||
| 100 | 100 |
⇒ 6000 × 4 × 5 = 8000 × 3 × t
| ∴ t = | |
| 8000 × 3 |
t = 5 years
