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In what duration (in years) will ₹9,000 fetch a simple interest of ₹1,080 at 6% per annum rate of interest?
Question

In what duration (in years) will ₹9,000 fetch a simple interest of ₹1,080 at 6% per annum rate of interest?

A.

3

B.

2

C.

1

D.

4

Correct option is B

Given:
Principal = ₹9,000
Simple Interest = ₹1,080
Rate of interest = 6% per annum
Formula Used:
Simple Interest = Principal×Rate×Time100\frac{Principal × Rate × Time}{100}​​
Solution:
1080 = 9000×6×Time100\frac{9000 × 6 × Time}{100}​​
1080 = 540 × Time
Time = 1080540=2 \frac{1080}{540} = 2​​
Final Answer
So the correct answer is (b)

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