Question

Principle 16,000 rate of interest 5% interest 2400. Time=?
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Answer 1

Step-by-step explanation:

For 1

st

year Principal (P)=Rs.16000, Rate (R)=5% Time (T)=1 year

∴ Interest=

100

16000×5×1

=160×5=Rs.800

∴ Amount at the end of first year=Rs.16000+800=Rs.16800

For 2

nd

year Principal (P)=Rs.16800, Rate (R)=5% Time (T)=1 year

∴ Interest=

100

16800×5×1

=168×5=Rs.840

∴ Amount at the end of second year=Rs.16800+840=Rs.17640

For 3

rd

year Principal (P)=Rs.17640, Rate (R)=5% Time (T)=1 year

∴ Interest=

100

17640×5×1

=

2

1764

=Rs.882

∴ Amount at the end of third year=Rs.17640+882=Rs.18522

Hence required amount=Rs.18522

Answer 2

Answer:

If Principle 16,000 rate of interest 5% interest 2400, then Time= 3 years.

Step-by-step explanation:

Given: Principle (P) = Rs 16,000

rate of interest (R) = 5%

Interest (I) = Rs  2400.

Find:  Time=?

Find time by using the formula of Interest.

Interest (I) =$\frac{P\times R\times T}{100}$

$2400= \frac{16000 \times 5 \times t}{100} \\2400= 160 \times 5 \times t\\2400 = 800 t\\t = \frac{2400}{800} \\t= 3$

So, the time is 3 years.