Question

in how much time will the simple interest on a sum of money at 8% p.a. be 2/3 of principal.​

Answer 1

Answer:

8.3

Step-by-step explanation:

We know,

Interest=(principal×rate×time)÷100

Now it is given,

interest=2/3×principal

therefore,

2/3×principal=(principal ×rate×time)÷100

2/3×principal=(principal ×8×time)÷100

=>time=2/3×100÷8=25÷3=8.3units.