Simple & Compound Interest · Question 20 · Easy
In how many years will ₹4,500 earn a simple interest of ₹1,215 at 6% per annum?
- 4 years
- 5 years
- 4 1/2 years
- 3 1/2 years
Answer and explanation
Answer: C. 4 1/2 years
Explanation: Interest per year = 6% of 4500 = ₹270. Time = 1215 ÷ 270 = 4.5 years.
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