Question

you have rupees 2400 in your account and the interest rate is 5% after how many year would you earn 240 as interest
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Answer 1

Answer:

2 years

Step-by-step explanation:

principal (p)= 2400 rs

rate of interest (r) = 5%

time (t) = y year

SI = (p x r x t) /100

according to question

240 = (2400 x 5 x y)/100

240 x 100 = 12000y

24000/12000 = y

2 = y

therefore time = 2years