In what time will * 3600 amount to 4320 at 8% per annum simple interest?
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In what time will * 3600 amount to 4320 at 8% per annum simple interest?
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AnsweHi ,
Principal ( p ) = Rs 3600
Amount ( A ) = 4320
Rate of interest ( r ) = 8%
Time = t years
Simple interest ( I ) = A - p
I = 4320 - 3600
= Rs 720
t = ( 100 × I )/pr
= ( 100 × 720 ) / ( 3600 × 8 )
= 5/2
= 2 1/2 years
I hope this helps you.
:)