Question

# Given that the principal=Rs.3500, Interest=Rs.700, and rate=5% p.a. Calculate the time period.

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Hint: Make use of the formula of simple interest and find out a formula for time period and calculate the time period from the data given.

We know that $SI = \dfrac{{PTR}}{{100}}$
So, we get time period T=$\dfrac{{SI \times 100}}{{P \times R}}$
T=$\dfrac{{700 \times 100}}{{3500 \times 5}}$
T=$\dfrac{{70000}}{{17500}} = 4$