Question

In what time will $8000 amount to $8360 at 6% per annum simple interest ?

Answer 1

Answer:

Amount = Principal + Interest

Interest= (P × t × r)/100

Here, P=8000, r=6% per annum, Amount=8360

∴, 8360=8000+{(8000×t×6)/100}

or, 8360=8000+480t

or, 480t=8360-8000

or, 480t=360

or, t=360/480

or, t=3/4 years

or, t=3/4×12 months

or, t=9 months Ans.

Step-by-step explanation:

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