A Scom of Rs. 3000 amount of Rs. 3950
at 8% p:cla simple interest in a
certain period fine period
Answers
➤ Correct Question :-
Sam invested ₹3000 which amounts to ₹3950 at 8% per annum rate of interest. Find the time period applied to the investment ?
➤ Given :-
Principle :- ₹3000
Rate of interest :- 8%
Time :- ₹3950
➤ To Find :-
The time period applied to the investment...
★ How to do :-
Here, we are given with the principle amount, the rate of interest and the total amount given at end of the time period. We are asked to find the time take to take the boney back. So, we have a appropriate formula to calculate the same which should be applied here. But, we need the simple interest for that which isn't given in the question. So, first we should find the simple interest by subtracting the total amount and the principle. Later, we can use the formula given while solving. So, let's solve!!
➤ Solution :-
Simple Interest :-
Substitute the given values.
Subtract the values to get the simple interest.
Now, let's find the time period of the investment.
Time :-
Substitute the given values.
Cancel the zeros in numerator and denominator.
Again cancel the zeros in numerator and denominator.
Multiply the remaining numbers in numerator and denominator.
The time taken to the investment is 3.95 years.
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