you have Rupees 2,400 in your account and the interest rate is 5% after how many years would you earn rupees 240 as interest
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given,
principal= 2400
rate = 5%
SI = 240
time = ?
Time= SI ×100/p×r
=> 240×100/5×2400
=>2400/1200
=> 2
hence, the required time is 2 year
principal= 2400
rate = 5%
SI = 240
time = ?
Time= SI ×100/p×r
=> 240×100/5×2400
=>2400/1200
=> 2
hence, the required time is 2 year
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