Question

In what time will ₹8000 amount to ₹8480 at 6% p. a simple interest?

Answer 1

Answer :-

Given :-

• Amount = ₹8480
• Principal = ₹8000
• Rate of interest = 6% p.a.

To Find :-

• Time

Solution :-

→ Simple interest = Amount - Principal

→ SI = 8480 - 8000

→ SI = 480

Now, we have -

• SI = ₹ 480
• P = 8000
• R = 6% p.a.

Substituting the values in formula -

→ SI = P × R × T / 100

→ 480 = 8000 × 6 × T / 100

→ 480 = 80 × 6 / T

→ 480 = 480T

→ T = 480 / 480

→ T = 1

Time = 1 year