Asmita invest an amount of Rs. 9534 @ 4 p.c.p.a to obtain a total amount of Rs. 11442 on simple interest after a certain period. For how many years did she invest the amount to obtain the total sum?

Solution(By Examveda Team)

$$\eqalign{ & {\text{P}} = {\text{Rs}}{\text{. 9534}} \cr & {\text{S}}{\text{.I}}{\text{.}} = {\text{Rs}}{\text{.}}\left( {{\text{11442}} - {\text{9534}}} \right) \cr & \,\,\,\,\,\,\,\,\, = {\text{Rs}}{\text{.1908}} \cr & {\text{R}} = {\text{4}}\% \cr & \therefore {\text{Time}} = \left( {\frac{{{\text{100}} \times {\text{1908}}}}{{{\text{9534}} \times {\text{4}}}}} \right){\text{years}} \cr & = \left( {\frac{{{\text{47700}}}}{{{\text{9534}}}}} \right){\text{years}} \approx {\text{5 years}} \cr} $$