Simple interest on ₹ 1680 for 4 yr at 7 1/ 2 per annum is equal to the simple interest on ₹ 1200 at 7% per annum for a certain period of time. Time period of time is?
Correct Answer: 6 yr
Explanation:
Let the required period of time be T yr.
Then, (1680 x 4 x 15) /100 = (1200 x T x 7)/100
T = (1680 x 2 x 12)/(1200 x 7)
= 6 yr
Hence, the required time period is 6 yr.
