Question

In how many years does a sum of ₹24,000 earn a simple interest of ₹2,880 at 3% p.a ?

Answer 1

Answer:

in 4 years it earns an interest of ₹2,880

Step-by-step explanation:

first we have to find interest earned in one year and then divide the amount with ₹2,880.

interest earned in 1 year=3%*₹24,000

=₹720

=years taken=₹2,880/₹720

=4 so 4 years will be taken to earn an interest of ₹2,880

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Answer 2

Answer:

Ans: 4 years

Step-by-step explanation:

I = Rs. 2880

P= Rs. 24000

R= 3%

T=?

We have,

T= (I * 100) ÷ T*R

OR., T= 288000 ÷ 72000

OR. T= 4 years