Question

In what time will rs. 1860 amount to 2641.20 at simple interest 12% per annum

Answer 1

Answer:

SI = 2641.20 – 1860 = 781.2 Rs.

Time = \frac{SI\times 100}{Princ.\times Rate}

= \frac{781.2\times 100}{1860\times 12} = 3.5 = 3\frac{1}{2}\ years