Sakshi borrowed rs. 16000 from a credit society at the rate of 10% for a certain period. She paid rs.22400 in all to the bank. Find the period of transaction.
Answers
Answered by
1
Answer:
t=4yrs.
Step-by-step explanation:
1) We know, Simple interest= (principal*rate*time)/100
2)Also, Simple interest=amount-principal.
3) Here, amount=22400 (given) and principal=16000 (given)
4) therefore, simple interest= 22400-16000=6400
5) using formula written in step 1, we have,
6400=(16000*10*t)/100
6)simplify and we get t=4yrs.
7) It was nice helping you :)
Answered by
1
rs18522
Step-by-step explanation:
principal amount =16000
rate of interest=10% per anum of 5% per half
time=3/2 year
A= P(1+ R/100)
=16000(1+5/100)
16000×(105/100)
= rs 18522
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