In what time will Rs. 7500 amount to Rs. 8625, if interest is reckoned at 7 1/2% pa?

Simple interest is the interest amount for a particular principal amount of money at some rate of interest

Answer: The time required to pay Rs 7500 amount to Rs 8625, if interest is reckoned at 7 1/2% pa is 2 years

Let's look into the relationship between Principal, Rate of Interest and, Time and Simple Interest

Explanation: 

Given: Principle (P) = Rs 7500

Amount (A) = Rs 8625

Rate (R) = 7 1/2%pa = 15/2 %

Simple Interest (SI) = Amount – Principle

= Rs 8625 - Rs 7500 = Rs 1125

We know that,

SI = (P × R × T)/100

Substituting the values in the above formula we get,

1125 = (7500 × T × 15/2)/ 100

=> 1125 = (7500 × T × 15)/200

=> 225000 = 112500 × T

=>  T = 2

Time = 2 years

Hence, the time required to pay Rs 7500 amount to Rs 8625, if interest is reckoned at 7 1/2%pa is 2 years