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1. Angela deposited 15000 rupees in a bank at a rate of 9 p.c.p.a. She got simple interestamounting to 5400 rupees. For how many years had she deposited the amount?

Question

  1. Angela deposited 15000 rupees in a bank at a rate of 9 p.c.p.a. She got simple interestamounting to 5400 rupees. For how many years had she deposited the amount?
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Solution

To solve this problem, we need to use the formula for simple interest which is:

I = PRT/100

where: I = Interest P = Principal amount (the initial amount of money) R = Rate of interest T = Time period

In this case, we know that: P = 15000 rupees R = 9% per annum I = 5400 rupees

We need to find T. So, we rearrange the formula to solve for T:

T = I * 100 / (P * R)

Substituting the given values:

T = 5400 * 100 / (15000 * 9)

Calculating the above expression gives:

T = 4 years

So, Angela had deposited the amount for 4 years.

This problem has been solved

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