Question

A sum of money invested at 8% per annum for simple interest amounts to 8 12122;
2 years. What will it amounts to in 2 year 8 months at 9% rate of interest?​

Answer 1

Step-by-step explanation:

Here, simple interest rate per annum is 8% , the time is 2 years and the final amount is Rs. 12122. Thus, the initial principal balance in hand is Rs.

10,450