Question

find the time period in which r 12000 will mature to 14160 at the rate of 6% per annum
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Answer 1

Answer:

Time Period = 3 years.

Step-by-step explanation:

P= 12000 Rs.

P+I = 14160 Rs.

I= 14160 - 12000 = 2160 Rs.

R = 6%

I = (P*T*R)/100

=> 2160 = (12000*6*T)/100

=> 2160= 720*T

=> T= 2160/720

=> T= 3 .

Time Period = 3 years.