What sum of money lent out at 16% per annum simple interest would produce Rs.160 as interest in 2 years?
Answers
Answered by
3
Hey mate!!
Given
P = Rs 160, R = 16%, T = 2years
To calculate the amount in simple interest, formula is a = p ( 1 + rt )
=> a = 160 ( 1 + 16/100 × 2 )
=> a = 16 ( 1 + 16/10 × 2 )
=> a = 16 ( 1 + 1.6 × 2 )
=> a = 16 ( 1 + 3.2 )
=> a = 16 × 4.2
=> a = 67.2 Ans
Hope you got your answer, so plz mark me as brainliest.
Similar questions