Question

In what time will rs 5600 anount6720 at 8% per annum

Answer 1

amount=6720
principal=5600
interest=6720-5600
=1120
rate=8%
therefore time=1120×100×1/8×1/5600
=2.5 years

Answer 2

principal=Rs 5600
Amount =Rs 6720
SI= Rs 1120
let the time be t
$\frac{p \times t \times r}{100} = simple \: interest$
=
$\frac{5600 \times 8 \times t}{100} = 1120$
448t=1120
t=1120/448
time=2.5 years