In how many years, Rs. 200 will produce the same interest @ 5 % as Rs. 900 produce in 2 years @ 3 ½ %?
A)6.3 years
B)8.2 years
C)9 years
D)12 years

Question

Quizplus · Accepted Answer

The interest produced by Rs. 900 in 2 years at 3.5% per annum can be calculated as follows: Interest = Principal × Rate × Time / 100 = 900 × 3.5 × 2 / 100 = 63. To find the time it takes for Rs. 200 to produce the same interest at 5% per annum, we use the formula for interest and solve for time: 63 = 200 × 5 × Time / 100, which gives Time = 63 × 100 / (200 × 5) = 6.3 years.

In How Many Years, Rs