Interests

How much time will it take for an amount of Rs. 450 to yield Rs. 81 as interest at 4.5% per annum of simple interest?

  1. 4 years
  2. 4.5 years
  3. 5 years
  4. 5.5 years

Answer

Simple Interest, SI = PRT/100

81*100 = 450*4.5*T

T = 4 years

The correct option is A.