Question

In what time will rupees 5600 amount to rupee 6720 at 8 per cent per anumm

Answer 1

Answer:2.5 year

Step-by-step explanation:

At first we have to find the Interest that is

amount-principal amount

=6720-5600

=Rs.1120

Now we can find the time with the formula

=100×interest/principal amount×rate

=100×1120/5600×8.....here we can cancel 0sof the 100 and 5600..therefore

1120/56×8

=1120/448

=2.5

Thus it will take 2  and a half year .