Question

Rs.2400 is borrowed at 2.5% rate of interest p.a..After how many years would you earn Rs. 240 as interest.class 7
please explain..​

Answer 1

si = pnr

240 = 2400×n×0.025

240 = 240×n×1/4

n=4 years

Answer 2

Given :

Principle (P) = 2400

Rate (R) = 2.5%

Simple interest (S.I.) = 240

Time (T) = ?

S.I. = (P×R×T)/100

240 = (2400×2.5×T)/100

[cross multiplication]

240×100 = 2400×2.5×T

T = (240×100)/(2400×2.5)

T = 24000/(2400×2.5)

T = 10/2.5

T = 100/25

T = 4

Hence, in 4 years you would earn ₹ 240.