Question

how long will it take 240 to amount to 360 at 20% per annum interest

Answer 1

Total amount ,I = 360

Principal ,P = 240

Rate if interest , R = 20%

Time , T = ?

I = P x R x T

360 = 240 × 20 × T

360/240×20 = T

T = 3/4th of the year

means 9 months

PLEASE BRAINLIEST ANSWER

Answer 2

According to the formula,
T = SI×100÷P×R

Till now we don't know the interest, so we need to find it.

SI = 360-240
SI = 120

Now solving it,
T = SI×100÷P×R
T = 120×100÷240×20
T = 12000÷4800
T = 2.5 years