Question

in how many years will take 1000 amount to RSVP 1300 at 10% p. a​

Answer 1

HERE IS YOUR ANSWER :-

principal amount :- 1000

Rate of interest :- 10%

Amount :- 1300

Time :- ??

simple interest = amount - principal amount

simple interest = 1300 - 1000

= 300

so, simple interest = 300

Therefore,

simple interest = principal amount × Rate of interest × Time / 100

=> 300 = 1000 × 10 × T / 100

=> 300 = 100 T

Time = 300/100

Time = 3 years

so, 1000 will amout to 1300 in 3 years at 10% per annum.

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