Question

A sum of Rs.5000 amounted to Rs.6440 in a certain period. If the rate simple interest is 12% p.a Find the period.​

Answer 1

Given :

P=Rs 5000, A=Rs 6450 and R=12%

⇒SI=A−P=Rs 1450

⇒T=

P×R

SI×100

=

5000×12

1450×100

=2.417 years