A some of rupees 4800 amounted to 6240 in a certain period if the rate of simple interest if 12/ per annum find the period
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Answer:
2.5 years
Step-by-step explanation:
given that,
amount=6240
principal=4800
rate of interest=12% per annum
time=?
from formula
time=100×interest/ p×r
therefore interest= amount-principal
=6240-4800
=1440
putting the values
100×1440/4800×12
144000/57600
=2.5 years
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