Question

You have ₹2400 in your account and intrest rate is 5% after how many year would you earn ₹240 as intrest

Answer 1

S.I. = (P × N × R) ÷ 100
240 = (2400 × N × 5) ÷ 100
We have to solve for N
240 = (12000 × N) ÷ 100
24000 = 12000 × N
N = 24000 ÷ 12000 = 2.

Ans=2 years