Question

In how many years will ₹ 120000 amount to ₹ 156000 at 6 % p.a.?

Answer 1

Principal- Rs 120000       Rate- 6% p.a      Amount- Rs 156000

∴ Simple Interest

= Amount- Principal

= Rs (156000-120000)

=Rs 36000

∴Time

= SI×100/RP

= 36000×100/6×120000

= 5

Ans. Time= 5 yrs

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