Question

In how many years will Rs.12000 amounts to Rs.17400 at 9% per annum

Answer 1

Answer:

Step-by-step explanation:

=12000/17400 × 9/100

=20/29 × 9/100

=5years

Answer 2

Given: P=$12000$Rs, Amount=$17400$, and Rate=$9\%$.

We have to find the number of years.

As we know that the simple Interest of an amount is calculated by multiplying the interest rate by the principal amount and the time period.

The simple interest is calculated by a formula: $SI=\frac{P\times R\times T}{100}$        

Where,

P = Principal Amount

T = Time in Years

R = Rate of Interest per Annum.

We are solving in the following way:

We have,

P=$12000$Rs, Amount=$17400$, and Rate=$9\%$.

We know that

SI = Amount - P

$SI=17400-12000\\SI=5400$

Now,

By putting the values in the formula:

$SI=\frac{P\times R\times T}{100}$  

$\Rightarrow 5400=\frac{12000\times9\times t}{100} \\\\\Rightarrow 5400\times100=12000\times9\times t\\\\\Rightarrow 540000=12000\times9\times t\\\\\Rightarrow\frac{540000}{12000\times9} =t$

Solving the above equation further we get,

$t=5$

Hence, the number of years will be$5$.