Question

farmer takes loan of Rs.8400 at the simple interest rate of 7.5% per annum . After what time will he have to pay Rs.10 920 to clear the debt ? ​

Answer 1

Answer:

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Answer 2

Answer:

The answer is after 4 years.

Calculation:-

The difference between both the amount will be interest.

so, 10920–8400 = 2520 (interest)

Formula for the simple interest is:-

Simple Interest = Principal * Rate * Time

PUT THE VALUE IN THE FORMULA.

2520= 8400 * 7.5/100 * Time

2520*100=63000 * Time

Time = 4 Years.