Question

how long will it take for rs 70000 invested at 15%per annum of simple interest to amount rs 101500​

Answer 1

Answer:

3 years

Step-by-step explanation:

Total amount = 101500

Principal = 70000

Interest amount = 101500 -70000 = 31500

Interest amount = p × r × n = 31500

p = 70000, r = 15/100, n=?

n = 31500/ ( 70000× 15/100)

n = 31500/10500

n = 3 years