In what time will ₹400 amount to ₹ 448 at the rate of 4% per annum ? Pls explain with steps
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Answer:
We have principal =Rs.400
It will amount to Rs.448
since simple interest = Amount − principal
=448−400
S.I=Rs.48
Rate of interest =4% per annum
We knew S.I=
100
P×R×T
48=
100
400×4×T
16T=48
T=3
So in 3 years the sum of Rs. 400 will amount to Rs. 448
Step-by-step explanation:
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