Question

Find the period.

Principal = 2550 rupees
Annual rate of interest = 17.5%
Total amount = 3888.75 rupees
Period
years

Answer 1

The time period for the simple interest = 3 years.

Explanation:

Principal = Rs 2550

Rate of Interest = 17.5%

Amount = Rs 3888.75

So, Simple interest = Amount - Principal

= Rs 3888.75 - Rs 2550 = Rs 1338.75

Now, SIMPLE INTEREST =
`(P * R * T )/(100)`

⇒
`T = (SI  * 100)/(P * R)`

or,
`T = (1338. 75 * 100)/(2550 * 17.5)  = 3`

⇒ T = 3 Years

Hence, the time period for the simple interest is 3 years.