Question

calculate the time required for the simple interest earned on ₹3000 at the rate of 4% per annum to be equal to the simple interest on ₹8000 at the rate of 8% per annum for 3 year

Answer 1

Answer: 16 years

Step-by-step explanation:

Interest on 8000 at 8% for 3 year

= 8000 * 8 * 3 / 100

= 80* 8 * 3

= 640 * 3

= 1920

Interest on 3000 at 4% in x years

= 1920

3000 * 4 * x / 100 = 1920

30 * 4x = 1920

120x = 1920

x = 1920 / 120

x = 16 years

Answer 2

Answer:

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