in how many years will the interest of a sum of Rs. 3600 at the rate of 5.5%
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Time = 3 years
Step-by-step explanation:
GIVEN
Principal = 3600
Rate Of Interest = 5.5% per year
Simple Interest
Time = ?
___________________________
We know that,
Simple Interest = (principal × rate of interest × time) / 100
Simple Interest = 3600 × 5.5 × time / 100
Time = 594 × 100 / 3600 × 5.5
Time = 59,400 / 19,800
Time = 3 years
Time = 3 years
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