Question

If you have Rs. 2400 in your account and the interest rate is 5% after how many years would you earn Rs.240 as interest?


with explanation​

Answer 1

Step-by-step explanation:

please make it brainliest

Answer 2

Given,

• Principal (P) = Rs.2400

• Rate = 5% per annum

• N = time in year

We know that,

$\bigstar\:\bf\orange{Simple~Interest~=~\dfrac{P~N~R}{100}~}$

$\implies\:\sf{240~=~\dfrac{2400\times{5}\times{N}}{100}~}$

$\implies\:\sf{N~=~240\times{100}~\times~\dfrac{1}{2400\times{5}}}$

$\implies\:\bf\red{N~=~2~years}$