Rs. 6000 becomes Rs. 8340 in K years at simple interest. If the rate of interest is 13% per annum, what is the value of K?
- AOption (a)
2 years
- BOption (b)
4 years
- COption (c)
3 years
- DOption (d)
5 years
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Correct answer
3 years
Why this answer is correct
Given:
Principal = Rs. 6000
Amount = Rs. 8340
Rate = 13%
Time = K
Formula used:
S.I = PRT/100
Where P → principal, R → rate, T → time
Simple interest = Amount - Principal
Calculation:
According to the question,
Simple interest = 8340 - 6000 = 2340
By using formula, we get
Simple interest = (6000 × 13 × K)100
⇒ 2340 = 780 × K
⇒ 3 = K
∴ The value of K is 3 years.

