how much time will it take for a principal of ₹20, 000 to give ₹1000 as interest at 5% per annum?
Answers
Answer:
Step-by-step explanation:
It will take 10 years. To solve for this, we will use the formula I = Prt where I stands for the interest, P stands for the principal amount, r is the rate of interest, and t is the duration.
Solutions:
Given: I = Principal x rate x time
5% - rate of interest
If the principal will earn an interest equal to half of it at 5% simple interest then,
1/2 P = principal x rate x time
1/2 P = P x .05 x t
Express 1/2 as a decimal then proceed with the division.
_.5 P = .05 Pt
.05 P .05 P
10 = t
Therefore, it will took 10 years to have a principal earn an interest equal to half of it at 5% simple interest.
Keywords: simple interest, principal, rate, time
Answer:
T=SI×100/P×R
Step-by-step explanation:
1000×100/2000×5= 10 years