Question

in how many years will rs 20000 give rs 3000 as simple interest af 5% per annum​

Answer 1

Step-by-step explanation:

Given:

Principal (P) = Rs. 3000

Interest (I) = Rs. 1080

Rate (R) = 12% per annum

Formula Used:

Simple Interest (I) = (P × R × T)/100

where P = Principal

R = Rate

T = Time

Calculations:

1080 = (3000 × 12 × T)/100

⇒ T = (1080 × 100)/(3000 × 12)

⇒ T = 3 years

∴ the correct answer is 3 years.

Answer 2

Simple Interest

Simple Interest is a method of calculating the interest on a sum at a given rate and for a given period of time on loan.

Now, Let's move on finding the solution for our question.

We know that,

${\boxed{\bullet\:{SI\:=\:{\dfrac{P\:\times\:R\:\times\:T}{100}}}}}$

where,

• SI - Simple Interest
• P - Principle
• R - Rate of Interest
• T - Time (No. of. years)

We also know, It is given that,

• Principle - Rs. 20,000
• Interest - Rs. 3000
• Rate of Interest - 5 %
• Time (in years) = ?

Substituting the known values in Formula, we get,

$\implies\sf{SI\:=\:{\dfrac{P\:\times\:R\:\times\:T}{100}}}$

$\implies\sf{3,000\:=\:{\dfrac{20,000\:\times\:5\:\times\:T}{100}}}$

$\implies\sf{T\:=\:{\dfrac{20,000\:\times\:5}{3,000\:\times\:100}}}$

$\implies\sf{T\:=\:{\cancel{{\dfrac{20,000\:\times\:5}{3,000\:\times\:100}}}}}$

$\implies\sf{T\:=\:{\dfrac{2\:\times\:5}{30}}}$

$\implies\sf{T\:=\:{\dfrac{10}{30}}}$

$\implies\sf{T\:=\:{\cancel{{\dfrac{10}{30}}}}}$

$\implies\sf{T\:=\:3}$

Hence, In 3 years the amount 20,000 gives Interest of Rs. 3,000.