In how many years will ₹7,200 amount to ₹8,928 at a simple interest rate of 8% per annum?

Question

Accepted Answer

Given:
Principal (P) = ₹7,200
Amount (A) = ₹8,928
Rate of Interest (R) = 8% per annum

We need to find the time (T) in years.

Simple Interest (SI) = Amount - Principal = 8928 - 7200 = ₹1728

Formula for Simple Interest:
SI = (P × R × T) / 100

Substitute the values:
1728 = (7200 × 8 × T) / 100

Multiply both sides by 100:
1728 × 100 = 7200 × 8 × T
172800 = 57600 × T

Divide both sides by 57600:
T = 172800 / 57600 = 3

Check calculation:
172800 / 57600 = 3

So, T = 3 years.

However, the options given are 2, 3, 4, 5 years. The calculation shows 3 years, but let's double-check the calculation:

SI = 1728
P = 7200
R = 8

SI = (P × R × T)/100
1728 = (7200 × 8 × T)/100
1728 = (57600 × T)/100
1728 = 576 × T
T = 1728 / 576 = 3

Therefore, the correct time is 3 years.

Hence, the correct answer is 'Three'.

Answer

Answer

Answer