Question

R.s 2000amount to r.s 2380 at 3% per annum in?

Answer 1

Answer:

This is a maths question

and is it under simple interest or compound interest ???

Answer 2

6.33 year

Explanation:

Given:

Amount = 2,380

Principal (p) = 2,000

Rate of interest (r) = 3% = 3 / 100 = 0.03

Number of year (t) = ?

Computation of number of year :

According to Simple interest concept:

Amount = Principal + interest

Amount = Principal + (p×r×t)

2,380 = 2,000 + [2,000×0.03×t]

2,380 - 2,000 = 60×t

380 / 60 = t

6.33 year = t

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