Question

in how many years will rupees 600 amount to rupees 840 at 2% simple interest

Answer 1

Answer:

Step-by-step explanation:

Answer 2

Given,

Rs 600

To find,

Years after which Rs 600 becomes Rs 840 at 2% interest.

Solution,

On applying the formula of simple interest,

Amount = Rs 840,

Principal rate = Rs 600,

Simple interest = 2%

S.I.= Amount - Principal rate

S.I. = 840-600 = Rs 240.

Now,

240 = $\frac{P* T * 2}{100}$,

240 x 100 = 600 x T x 2.

T = 20 years.

In 20years will rupees 600 amount to rupees 840 at 2% simple interest.