Question

How long will it take for ₹3500 to become ₹3800 if interest is charged at 2 percent per annum

HURRY ANS WITH STEPS AS BRAINLIEST

Answer 1

Given, Principal = 3500, R = 2%, A = 3800.

We know that SI = PTR/100

⇒ (3500 * 2 * T)100

⇒ 70T.

We know that A = P + I

⇒ 3800 = 3500 + 70T

⇒ 300 = 70T

⇒ T = 4.2.

Therefore, T = 4.2 years.

Hope this helps!