In how many years will₹20000 amount to ₹23000 at 5% per annum simple intrest
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Answered by
34
Answer:
3 Years
Step-by-step explanation:
Here Principal = ₹20000
Amount = ₹23000
Rate of interest = 5%
Simple Interest = Amount - Principal
= 23000 - 20000
= 3000
But we know that Simple Interest = (Principal × Rate × Time)/100
∴ (20000 × 5 × Time)/100 = 3000
20000 × 5 × Time = 300000
Time = (300000) / (20000 × 5)
Time = 3
∴ In 3 years ₹20000 will amount to ₹23000.
Answered by
4
Answer:
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