Find the number of years to get ₹ 1,530 as interest on a loan of ₹ 1,500 at 4% per annum.​

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1. Answer:

   • The time in which ₹1500 will amount to ₹1530 at a rate of 4% per annum is 1/2 years.

   Step-by-step explanation:

   Given that:

   • Amount = ₹1530
   • Principal = ₹1500
   • Rate = 4% per annum

   To Find:

   • Time.

   Let us assume:

   • The required time be x.

   Finding Simple Interest:

   As we know that:

   • Simple Interest = Amount – Principal

   Substituting the values,

   Simple Interest = ₹(1530 – 1500)

   = ₹30

   Finding time:

   As we know that:

   [tex]\sf{\circ\;SI=\dfrac{P\times R\times T}{100}}[/tex]

   Where,

   • P = Principal
   • R = Rate
   • T = Time

   Substituting the values,

   [tex]\rm{\longmapsto30=\dfrac{1500\times 4\times x}{100}}[/tex]

   Cutting off the zeros,

   [tex]\rm{\longmapsto30=\dfrac{15\!\!\!\not{0}\!\!\!\not{0}\times 4\times x}{1\!\!\!\not{0}\!\!\!\not{0}}}[/tex]

   [tex]\rm{\longmapsto30=15\times4\times x}[/tex]

   Multiplying RHS,

   [tex]\rm{\longmapsto30=60x}[/tex]

   Transposing 60 from RHS to LHS and changing its sign,

   [tex]\rm{\longmapsto\dfrac{30}{60}=x}[/tex]

   Dividing the numbers,

   [tex]\rm{\longmapsto\dfrac{1}{2}=x}[/tex]

   Hence,

   • x = 1/2

   Therefore,

   • Required time = 1/2 years

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