Q: How much time will it take for an amount of 1000 to yield 100 as interest at 5% per annum of simple interest?
Options:
(A) 3 years
(B) 4 years
(C) 2 years
(D) 5 years
(E) 7 years
A: (C)
Explain how we arrive at this answer:
Explanation: Time = (100 x 100)/(1000 x 5) years = 2 years.