How long it takes for Rs 1600 invested in 14% per annum simple interest to amount to Rs 2832
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Answer:
N = 12.64 yrs
Step-by-step explanation:
Given,
SI = ₹ 2832
P = ₹ 1600
R = 14%
N = ?
SI = (P × R × N) ÷ 100
2832 = (1600 × 14 × N) ÷ 100
N = (2832 × 100) ÷ 1600 × 14
N = 177 ÷ 14
N = 12.64 yrs
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