Question

find the time when principal equal to rupees 5000 amount equal to rupees 6450 and rate equal to 12 %

Answer 1

Simple Interest = Amount – Principal Amount = 6450-5000.Simple Interest = 1450.

Simple Interest, SI = PRT/100 ; 

1450 = 5000*12*T/100; 

1450*100 = 5000*12*T; 

60000T = 145000; 

T = 2.416667; 

T = 2years.416667*12 ; Therefore, Time = 2years 5 months

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