Question

in what time will the simple interest on RS.500 @6% be equal to the intrest on RS. 540 for 8 year at 5%.​

Answer 1

Answer:

7.2 years

Step-by-step explanation:

Simple Interest = PTR/100

P = principle amount

T = time period

R = rate of interest per annum

P1T1R1 = P2T2R2

P1 = 500, T1 =? , R1 = 6 , P2 = 540, T2 = 8, R2 = 5

by substituting the values

500*T1*6 = 540*8*5

T1 = 7.2 years