In how many years will a sum of ₹3,000 yield a simple

Home » Aptitude » Simple interest » Question

In how many years will a sum of ₹3,000 yield a simple interest of ₹1,080 at 12% per annum ?

1. 3 years
2. 2 1 years
  2
3. 2 years
4. 3 1 years
  2

Correct Option: A

We can find the required time with the help of given formula ,

Time =	S.I × 100
	Principal × Rate

Time =	1080 × 100	= 3 yrs
	3000 × 12