If you put ₹1,500 in an account at an annual simple interest rate of 12%. How long will it take your balance to grow to ₹2,400?
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Step-by-step explanation:
Firstly, multiply the principal P, interest in percentage R and tenure T in years.
For yearly interest, divide the result of P*R*T by 100.
To get the monthly interest, divide the Simple Interest by 12 for 1 year, 24 months for 2 years and so on.
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