Question

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Answer 1

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2.7) I) Find the sum of money on which the interest equals ₹6770 in 1 year at the interest rate of 5% per annum .

Ans ↓

P = SI × 100 / R × T

= 6770 × 100 / 5 × 1

= 6770 × 20

= 135400

II) In how many years will ₹1200 amount to ₹1488 at the interest rate of 3% per annum?

Ans ↓

SI = A - P

= 1488 - 1200

= 288

T = SI × 100 / P × R

= 288 × 100 / 1200 × 3

= 288 / 12 × 3

= 288 / 36

= 8

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