Question

What amount should be invested at 8 p.c.p.a for 4 years to earn an interest rs.7200​

Answer 1

Answer:

The amount of money required to invest is 22,500 Rs

Step-by-step explanation:

        Given  the rate on interest  = 8%  

                                           time  = 4 years

     amount of interest to be earn  = 7200

  let amount invested  is 'P'

    formula for simple interest   $I = \frac{PTR }{ 100}$

                                            7200 =  $\frac{ P (4) (8)}{100 }$

                                7200× 100 = P(4) (8)

                                 $P= \frac{7200(100) }{4(8)}$   =  22,500 Rs