a) 8 months
b) 9 months
c) 1 ¼ years
d) 1 ½ years
correct answer is: b) 9 months
Explanation
Here,
Principal = ₹8000
Amount = ₹8360
We know, S.I. =\left(amount\ -\ principle\right)
\therefore S.I. =\;₹\left(8360\;-\;8000\right)
\rightarrow S.I. = ₹360
Rate = 6 %
So, S.I. =\frac{p\times r\times t}{100}
\therefore360=\frac{8000\times6\times t}{100} [put all value]
\rightarrow360=\frac{48000t}{100}
\rightarrow48000t=36000 [cross multiply]
\rightarrow t =\frac{3600}{4800}
\therefore t =\frac{3}{4} years or 9 months
Ans: 9 months.
This precise question can also be expressed as:
1. How long does it take for ₹8000 to grow to ₹8360 at a 6% per annum simple interest rate?
2. Calculate the time required for a principal amount of ₹8000 to reach ₹8360 with a 6% per annum simple interest rate.
3. In what time will an investment of ₹8000 yield ₹8360 at a simple interest rate of 6% per annum?
4. Find the duration needed for ₹8000 to accumulate to ₹8360 with a simple interest rate of 6% per annum.
5. Determine the time it takes for ₹8000 to become ₹8360 at a 6% per annum simple interest rate.