Question

How long will it take Rs. 1,500 to become Rs. 2,040 at 8 % per annum simple
interest?​

Answer 1

Answer:

Formula for simple interest: principle*rate per anuum*number of years/100

Interest: 2040-1500=540

540=1500*8*years /100

54000=12000x

x=54000/12000

=4.5 years

Answer 2

Step-by-step explanation:

Given,

Principle = ₹1500

Amount = ₹2040

Interest = P - A = 2040 - 1500 = ₹540

RATE = 8%

$time = \frac{i \times 100}{p \times r}$

$time = \frac{540 \times 100}{1500 \times 8} = 4 \frac{1}{6} \: years \: \:$

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