Question

In what time will Rs 2,400 amount to Rs 2,700, if simple interest is calculated at 5% per annum?

Answer 1

Solutions :-

Given :
Principle = p = Rs 2400
Amount = A = Rs 2700
Rate = r = 5%

Let the time be t


To find :- Time

Find the Simple Interest (S.I) :-

S.I = A - p
= Rs (2700 - 2400)
= Rs 300

Now,
Find the time :-

t = (S.I × 100)/(p × r)
= (300 × 100)/(2400 × 5)
= 30000/12000
= 2.5 years


Hence,
Time = 2 years 6 months or 2.5 years

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✯ @shivamsinghamrajput ✯