Site navigation

A man deposited Rs. 1.0 lakh in his bank account and earned a profit of Rs. 25,000 @\(5\%\) simple…

Using \(SI=\frac{P\times R\times T}{100}\) with SI equal to 25000, P equal to 100000 and R equal to 5, we get \(25000=\frac{100000\times5\times T}{100}=5000T\). Hence…

Choose your answer

A man deposited Rs. 1.0 lakh in his bank account and earned a profit of Rs. 25,000 @5%5\% simple interest per annum. Find out the time period for which the money deposited by the man remained in the bank.

Select one answer
Answer and explanation

Correct answer B

Using SI=P×R×T100SI=\frac{P\times R\times T}{100} with SI equal to 25000, P equal to 100000 and R equal to 5, we get 25000=100000×5×T100=5000T25000=\frac{100000\times5\times T}{100}=5000T. Hence T=5T=5. The money stayed for 5 years.

Practice for these exams

Related question papers

Related exam syllabi

Related questions in this topic