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Simple interest

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  1. In what time will 1,860 amount to 2,641.20 at simple interest 12% per annum ?
    1. 3 years
    2. 31Year
      2
    3. 4 years
    4. 41Year
      2
Correct Option: B

S.I. = Amount - Principle = 2641.20 – 1860 = ₹ 781.2
As we know that ,

Time =
SI × 100
Principal × Rate

Time =
781.2 × 100
 = 3.5 years
1860 × 12

Time = 3
1
 years
2


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