Question

in a bank I deposited a sum of rupees 730 and took an interest of rupees 40 after a certain period if the simple interest rate was 10% per annum what was the time after which I earned the interest

Answer 1

Hey there ✌̤✌̤✌̤
ᴜʀ ᴀɴꜱ ɪɴ ʜᴇʀᴇ

●INTEREST = Interest is the price paid by a borrower for the use of a lender's money.

TYPE OF INTEREST----- there are 2 type of interest--
●Simple Interest
●Compound Interest

♥Simple Interest = Simple interest is the computed on the principal for the entire period of borrowing.
Formula -----
I = Pit
A = P + I
I = A - P

here
I = Amount of Interest
P = principal ( initial value of an investment)
A = Accumulated amount ( Final value of an investment)
i = Annual interest rate in decimal
t = time in years

♥Compound Interest = compound interest as the interest that accrues when earnings for each specified period of time added to the principal thus increasing the principal base on which subsequent interest is compound.

Formula -
A = p (1 + i)^n
where,
i = Annual rate of interest
n = Number of conversion period per year
INTEREST = An - P
or
= P ( 1 + i)^n - P

Let, move to ur Question -----

ɢɪᴠᴇɴ ----
ᴩ = ₹ 730
ʀᴀᴛᴇ = 10%
ᴛɪᴍᴇ = ???
ꜱɪ = 40

ᴀꜱ ᴡᴇ ᴋɴᴏᴡ ,
ꜱɪ = ᴩʀᴛ/100
₹40= 730 ×10×ᴛ/100
40 ×100/730×10 = ᴛ
4000/ 73ᴏᴏ= ᴛ
ᴛ = 0.6 ( ᴀᴩᴩʀᴏx)


ꜱᴏ , ɪɴ 6 ᴍᴏɴᴛʜ ᴀᴩᴩʀᴏx ᴡᴇ ᴡɪʟʟ ɢᴇᴛ ₹40 ᴀꜱ ɪɴᴛᴇʀᴇꜱᴛ.

♥♥ʜᴏᴩᴇ ɪᴛ ʜᴇʟᴩꜱ ᴜ ♥♥