Question

A farmer takes a loan of 8400 at the simple interest rate of 7/1/2% per annum. After what time will he have to pay 10920 to clear the debt?​

Answer 1

Answer:

the answer is 4years

Step-by-step explanation:

difference between both the amount will be interest.

so, 10920-8400=2520

formula for simple interest is =

simple interst =principle x rate x time

so, 2520=8400 x 7.5/5100 x time

2520 x 100= 63000 x time

= 4 years

solve 2520 x 100 =63000 x time by yourself than you will get the answer