Question

How long must a sum of rs14,400 be invested at 12%p.a.so as to earn an interest of rs7200?
please answer the question in process
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Answer 1

Answer:

${\bold{\green{\underline{ ★ \: UPSC - Aspirant \:★ }}}}$

Okay lets start ,

We know that simple interest = principal × time × rate / 100

Amount = principal + simple interest

22400=14000+S.I.

8400= S.I.

8400=14000 × 12 × rate / 100

You solve this , you get :

Rate =5%