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Question
Angela deposited 15000 rupees in a bank at a rate of 9 p.c.p.a. She got simple interest amounting to 5400 rupees. For how many years had she deposited the amount?
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Solution
Amount deposited = Rs 15000
Rate of interest = 9%
Simple interest = Rs 5400
Let the number of years be T.
SI = `"PRT"/100`
`5400 = (15000xx9xxT)/100`
5400 = 1350 × T
T = `5400/1350`
T = 4
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