Find the duration (in years) in which ₹1,200 will amount to ₹2,220 at a rate of 20% per annum simple interest.

Correct option is C

Given:

Principal (P) = ₹1,200

Amount (A) = ₹2,220

Rate of interest (R) = 20% per annum

We need to find the time (T) in years.

Formula Used:

SI = $$\frac{P \times R \times T}{100}$$

Amount = P + SI

Solution:

SI = 2220 - 1200 = ₹1020 

Now,  

1020 = $$\frac{1200 \times 20 \times T}{100}$$

T =  4.25 Years

Thus, The duration is 4.25 years