In how many years will $12000 create an interest of $13230 at 10% simple interest
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net interest will be 13230- 12000= 1230
now use formula as S.I./P = RT/ 100
1230/12000= 10t/ 100. =
so 1.25 or 1 year and 3 months(.25 convert as 1/4 of 12 months)
ans = 1 year 3 months.
now use formula as S.I./P = RT/ 100
1230/12000= 10t/ 100. =
so 1.25 or 1 year and 3 months(.25 convert as 1/4 of 12 months)
ans = 1 year 3 months.
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