Find the duration (in years) in which ₹1,200 will amount to ₹2,280 at a rate of 4% per annum simple interest.

Correct option is A

Given:

Principal (P) = ₹1,200

Amount (A) = ₹2,280

Rate of interest (R) = 4% 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 = 2280 - 1200 = ₹1080 

Now,  

1080 = $$\frac{1200 \times 4 \times T}{100}$$ 

T = $$\frac{1080 \times 100}{1200 \times 4}$$ ​

T = 22.5

Thus, The duration is 22.5 years