Question

Find the period after which and interest of Rs 120 Will be obtained on Rs 400 at the rate of 6p.c p.a
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Answer 1

Answer:

Period : 5 years

Explanation :

Principle : 400

rate : 6%

period : t years ( let)

Simple interest : Rs 120

A/Q --

$\frac{400 \times 6 \times t}{100} = 120 \\ = > 24t = 120 \\ = > t = \frac{120}{24} \\ = > t = 5$

Therefore period = 5 years