Question

in what time will Rs 5600 amount to rs 6720 at 8% per annum

Answer 1

Answer:

2 years

Step-by-step explanation:

interest=6720 - 5600 = 1120

time= 100 x interest/principal amount x rate

          100 x 1120/5600 x 10

         =2 years

Answer 2

Given:

Rs 5600 amount to rs 6720 at 8% per annum

To Find:

Time required

Solution:

It is given that Rs5600 amounts to Rs6720 at 8% p.a and we need to find the time required to happen, we can find the time by using the formula for simple interest that is,

$SI=\frac{PRT}{100}$

So the interest earned will be,

SI=6720-5600

   =1120

Now put the values in the above-stated formula to get the value of time period required, which will be,

[tex]SI=\frac{PRT}{100} \\ 1120=\frac{5600*8*T}{100} \\ T=2.5 years[/tex]

Hence, the time required is 2.5 years.