Question

sunil babu deposited Rs. 7000 at 8% yearly simple interest in post office few years ago.After his death, his wife is got Rs.12600 back. How much years ago sunil babu deposited the money? Ans. 7

Answer 1

principal (p) =Rs 7000
rate of interest =r=8%
amount (A) =12600
time = t years

interest = amount - principal =12600-7000= 5600

ptr/100 = I

t= 100* I/pr

t= (100*5600)/(7000*8)

t= 560000/56000
t= 10 years