Question

exercise 9.4 Calculate the time required for the simple
interest earned on 3,000 at the rate of
4% per annum to be equal to the simple
interest on 8,000 at the rate of 8% per
annum for 3 years.​

Answer 1

Answer:

the time required for the simple   interest earned on 3,000 at the rate of

4% per annum to be equal to the simple  interest on 8,000 at the rate of 8% per  annum for 3 years  is 16 years

Step-by-step explanation:

Formula for Simple Interest is \frac{P\times N\times r}{100}\;.

where P is the Principle, R is rate of interest , N is the number of years.

Simple interest on 8,000 at the rate of 8% per  annum for 3 years  is 1920

we have to calculate N for P= 3000 and R= 4 % p.a .

[\frac{3000\times N\times4}{100}\; = 120\times N

\frac{8000\times3\times8}{100} = 1920

120\times N = 1920

N= \frac{1920}{120} = 16