Question

In what time will rupees 5600 amount to rupees 6720 at 6%per annum

Answer 1

Answer:

A=P×R×T÷100

6720=5600×6×T÷100

6720=336×T

6720÷336=T

20 months =Time

Answer 2

Given:

Principal amount = 5600

Maturity amount= 6720

Rate = 6% p.a.

To find:

The time

Solution:

Principal Amount = 5600

Maturity Amount= 6720

Rate = 6% p.a.

$Interest= Maturity \: Amount - Principal \: Amount$

$Interest = 6720 - 5600$

$Interest = 1120$

Using the formula for simple interest.

$SI= prt$

where p is the principal amount, r is the rate and t is time

$1120 = 5600 \times \frac{6}{100} \times t$

$1120 = 56 \times 6 \times t$

$t = \frac{1120}{56 \times 6}$

$t = \frac{10}{3} years$

Finding the time in months

$t = \frac{10}{3} \times 12$

$t = 40 \: months$

Therefore, the time in which the principal amount 5600 matured as 6720 at 6%p.a. is 40 months.