Question

How long will it take for Rs. 1600 invested at the rate of 14% p.a. simple interest
to amount to Rs. 2832 ?

Answer 1

Answer:

14% will be the rate

Step-by-step explanation:

principle=1600RS

Amount=2832RS

Time=51/2 or 11/2 years

SI=A-P=(2832-1600)=1232RS

Rate=SI×100/P×T=1232×100×2/1600×11

=77×2/11

=7×2=14

14%