In how many years will ₹3,000 earn a simple interest of ₹2,700 at 10% per year?

💡 Solution & Explanation

Interest for one year = 10% of ₹3,000 = ₹300. The total interest is ₹2,700, so the time = 2,700 ÷ 300 = 9 years. Using the formula: time = interest × 100 ÷ (principal × rate) = 2,700 × 100 ÷ (3,000 × 10) = 9.