Question

In how many years will interest on rupees 3000 at 5% per annum be rupees 600?​

Answer 1

Answer:

Example 1: If Rs. 4000 is invested at 8% p.a. simple interest for 5 years, find the interest.

Sol: simple interest formula: 4000 × 8 × 5/100 = Rs. 1600

Example 2: If Rs 16,000 is invested at 12 percent simple annual interest, how much interest is earned after 6 months?

Sol: Since the annual interest rate is 12 %, the interest for 6 months is (16000x12x6)/12x100 = Rs. 960.

Explanation:

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Answer 2

Answer:

16 years

Explanation:

here the above question is

3000 rs is principal amount

5%is the rate of interest

annum rs is 600

the equation is t=100×I / PR

firstly,

we find total amount A= P+I

I=A-P

= 3000-600

I =2400

T=100×I/PR

=100×2400 /3000×5

=2400/150

=240/15

T=16 yrs