Question

how long will it take rupee 3000 to become 3500 at 5% per annum simple interest please explain step by step ​

Answer 1

Answer:

3$\frac{1}{3}$  years

Step-by-step explanation:

Amount = Simple Interest + Principal

=> Simple Interest = Amount - Principal

=> Simple Interest = 3500 - 3000

=> Simple Interest= 500

                                                         ----x----

Time (in years)

= $\frac{Simple Interest * 100}{Rate * Principal }$

= $\frac{500 * 100}{5 * 3000 }$

= $\frac{100 * 100}{1 * 3000 }$

= $\frac{10 * 1}{1 * 3 }$

= 10/3

= 3$\frac{1}{3}$