You have 2400 in you account and the interest rate is 5% . after how many years would you earn 240 as internest
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Actually your question is a mathematical question dealing with simple interest
SI = Total investment X No. of years X Interest rate /100
answer for your question is
let no. of years be β
240 = 2400 x β x 5/100
24000 = 12000β
24000/12000 = β
2 =β
∴ No. of years after which you would earn a interest of 240 is 2 years
SI = Total investment X No. of years X Interest rate /100
answer for your question is
let no. of years be β
240 = 2400 x β x 5/100
24000 = 12000β
24000/12000 = β
2 =β
∴ No. of years after which you would earn a interest of 240 is 2 years
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