In how much time will a sum of Rs. 12500 amounts to Rs. 20000 at the rate of 8 percent per annum at simple interest?

Explanation

Given: Principal (P) = Rs. 12500 Final Amount (A) = Rs. 20000 Rate of interest (r) = 8% per annum Concept: Simple Interest = (Principal × Rate × Time)/100. We rearrange this formula to solve for Time. Calculation: Simple Interest = Final Amount - Principal ⇒ Rs. 20000 - Rs. 12500 = Rs. 7500 Time = (Simple Interest × 100) / (Principal × Rate) ⇒ (7500 × 100) / (12500 × 8) = 7.5 years Hence, it will take 7.5 years for the sum to amount to Rs. 20000.