Question

Miya borrowed ₹12,000 from a bank at 6% per annum. She returned ₹15,600. The time period is _____. (in years)

Answer 1

Answer:

12000

6%of12000is720

15600-12000=3600

3600÷720=5

therefore, 5years..

Answer 2

Answer:

First of all, take out the interest by using I=A-P, then take out time through T=(I*100)/(PR)

Step-by-step explanation:

Solution:

Given,

Rate%=6%

Principal (P) =12000

Amount (A) =15600

Interest (I) = ?

Time (T) = ?

So,

I = A-P

= 15600 - 12000

= 3600

Now,

T = (I*100)/(PR)

= ( 3600*100)/(12000*6)

= (360000)/(72000)

= 5 years