Harish is planning to deposit 260,000 in the
bank. The bank offers
an intrest rate of 3% pa
annum. Im how many years can Harish earn an
intrest of 27,200?
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Given,
principal = 260,000
rate = 3%
interest = 27,200
find,
time =?
let the time be x years,
=>interest = principal ×rate x time/100
=>27200 = 260000×3×x/100
=> 27200× 100 /260000×3 = x
=> 272/78= x
=> 3.4 = x
time = 3.4 years
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