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1. You have 2,400 in your account and the interest rate is 5%. After how many years
would you earn 240 as interest.
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You have Rs,2,400 in your a...
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You have Rs,2,400 in your account and the interest rate is 5%. After how many years would you earn Rs 240 as interest.
ANSWER
Given,
Principal P=2400Rs
Rate =5% per annum
N= time in year
Simple Interest SI=100PNR
According to the given condition,
240=100(2400×5×N)
⇒N=2400×5240×100
on Solving,
N=2 years
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after 2 years would you earn 240 as interest.
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