Question
Download Solution PDFIf the simple Interest for 5 years is equal to 25% of the principal, then the Interest will be equal to the principal after ______ years.
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Simple interest (S.I) = 25% × Principal
Time = 5 years
Formula used:
Simple interest (S.I) = (P × R × T)/100
Where, P = principal ; R = rate ; T = time
Calculation:
Simple interest (S.I) = (P × R × T)/100
⇒ 25/100 × P = (P × R × 5)/100
⇒ 25 = R × 5
⇒ R = 5%
According to the question:
Simple interest (S.I) = (P × R × T)/100
⇒ P = (P × 5 × T)/100
⇒ T = 100/5 = 20 years
∴ The correct answer is 20 years.
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