In what time will Rs. 8000 amount to Rs. 8360 at 6% per annum simple interest?
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Answer: Amount = Principal+Interest
Interest= (P×t×r)/100
Here, P=8000, r=6% per annum, Amount=8360
∴, 8360=8000+{(8000×t×6)/100}
or, 8360=8000+480t
or, 480t=8360-8000
or, 480t=360
or, t=360/480
or, t=3/4 years
or, t=3/4×12 months
or, t=9 months Ans.
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