Exams › IBPS PO › Quantitative Aptitude

How much time will it take for an amount of Rs. 450 to yield Rs. 81 as interest at 4.5% per annum simple interest?

1. 3.5 years
2. 4 years
3. 4.5 years
4. 5 years

Correct answer: 4 years

Solution

Using SI = (P × R × T) / 100, we get 81 = (450 × 4.5 × T) / 100. Solving gives T = 4 years.

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