Question

In what time shall ₹ 500 amount to ₹ 700 at 8% simple interest per annum?​

Answer 1

Answer:

5 years

Step-by-step explanation:

Given,

P = 500₹

N = ?

R = 8%

I

T

interest = total amount- principal amount

=700 - 500

=200₹

we know,

I = P×N×R/100

200₹ =500×N×8/100

N = 200×100/500×8

=5 years

therefore time is 5 year