Question

In how many years does a sum of 1.20
lakh earn a simple intrest 24,000 at 12 %
p.a ?

please give answer fast! its urgent​

Answer 1

Answer:

In  1 yr. 8 months a sum of 1.20 lakh earn a simple interest 24,000 at 12% per annum.

Step-by-step explanation:

Principal=1.20lakh

Simple interest(S.I)=Rs.24000

Rate(r)=12%

Simple Interest=( Principal × Rate × Time) /100

Time=(S.I×100)/(P× r)

        =(24000×100)/(120000×12)

         =20/12 years

          =1 yr.8 months