How long will it take for an investment of R3000 at 8% per annum simple
interest to earn R960 interest?
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Hi ,
Investment = Principal ( P ) = Rs 3000
Rate of interest ( R ) = 8% per annum
Let the Time = T years
Simple interest = I = Rs 960
We know that ,
_____________
I = PTR /100
______________
T = ( 100 × I ) / PR
T = ( 100 × 960 ) / ( 3000 × 8 )
T = 4 years
It will take 4 years.
I hope this helps you.
:)
Investment = Principal ( P ) = Rs 3000
Rate of interest ( R ) = 8% per annum
Let the Time = T years
Simple interest = I = Rs 960
We know that ,
_____________
I = PTR /100
______________
T = ( 100 × I ) / PR
T = ( 100 × 960 ) / ( 3000 × 8 )
T = 4 years
It will take 4 years.
I hope this helps you.
:)
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