Question

In how many years will Rs 7,500 amount to Rs 11,700 @7% p.a. simple
interest.​

Answer 1

Step-by-step explanation:

GIVEN THAT :

• principal amount = 11,700
• interest rate = 7%
• interest = 7500

QUESTION ASKED :

• number of years taken

REQUIRED FORMULA :

• Simple interest = PTR/100

SOLUTION :

• 7500 = (11700)(T)(7)/100
• 7500 = (117)(T)(7)/100
• 7500 / (117)(7) = T
• T = 9.157 years

So the time taken = 9.157 years