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Q:
A) 2.9 years | B) 3.5 years |
C) 4.2 years | D) 4.7 years |
Answer: B) 3.5 years
Explanation:
Explanation:
Given that Rs. 1860 will become Rs. 2641.20 at 12%
=> Simple Interest = 2641.20 - 1860 = Rs. 781.20
We know I = PTR/100
=> 781.20 x 100 = 1860 x T x 12
=> T = 78120/1860x12
=> T = 78120/22320
=> T = 3.5 years.