Question

How long will it take for a sum of 12,600 invested
at a simple interest of 3% per annum to become 16,380​

Answer 1

Answer:

10 years

Step-by-step explanation:

Principal = 12,600 rupees

Rate of interest = 3% per annum

Amount = 16,380

time = ?

------------------

Amount = Principal + Interest

Interest = Amount - Principal = 16380 - 12600 = 3,780 rupees

Use Formula of simple interest

Simple interest = (p*r*t)/100

3780 = (12600 * 3 * t) / 100

$\frac{(3780 * 100)}{(12600 * 3)} = t$

t = 10 years