Question

At what time Rs 5600 amount to Rs 6720 at 8% p.a.

Answer 1

Answer:

Step-by-step explanation:

Principal amount (P) = Rs5600.

Interest =   (Rs 6720-Rs 5600)    

              = RS 1120

Rate of interest (R) = 8%.

The formula for simple interest

i = {PTR/100}n is number of years.  

So N = 100 i /PR = 100 x1120 /5600 x 8  

=2.5years.  

So the period is 2 1/2 years.

∴ 2years 6months.

Answer 2

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