In how many years
In how many years will 12000 amount to 13230 at 10% simple int
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Answer:
Dear Student,
◆ Answer -
Time = 11.025 years
● Explanation -
# Given -
Sum invested = $ 12000
Simple interest = $ 13230
Rate of interest = 10 %
# Solution -
Simple interest is calculated by -
Simple interest = sum invested × rate of interest × time interval
13230 = 12000 × 10/100 × time
13230 = 1200 × time
Time = 13230 / 1200
Time = 11.025 years
Hence, 11.025 years will be taken.
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