Question

In what time will Rs.1500 amount to Rs.1680 ,if simple interest is calculated 9% per annum?

Answer 1

Answer:

principal = ₹1500

amount = 1680

A = P (1 + RN/100)

1680 = 1500 (1 + 9N/100)

1680/1500 = 109N/100

1.12×100 = 109N

N = 1.0275 years (Appx.)

1 year and (0.275 × 12) 3 months

1 year and 3 months