Question

how long will it take for a sum of rupees 12600 invested at 9% per annum simple interest amount to rupees 15624

Answer 1

SI = Amount - P = 15624-12600 =₹3024
SI = P*r*t/100
3024= 12600*9*t/100
t= 24/9 years = 2 6/9 years = 2 years 8 months

Answer 2

Answer

2.6 years will it take for a sum of rupees 12600 invested at 9% per annum simple interest amount to rupees 15624

Solution

sum of rupees 12600 invested

Interest rate  9% per , therefore I =9%

After "N" years amount will be 15624

So the total interest I=15624 - 12600 =RS. 3024

Let simple interest, I = PNR/100 P = Principle amount

     N = Number of years

     R = Rate of interest

Therefore N=(I x 100)/(PR)

       Number of years N=(3024 x 100)/(12600 x 9) = 2.6 years