radha deposited rupees 8000 at 7% and earned rupees 2680 as simple interest find the time period plz answer step by step
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radha deposited rupees 8000 at 7% and earned rupees 2680 as simple interest find the time period plz answer step by step
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Answer:
4.7857 years (about 4 years 9 months
Step-by-step explanation:
First, converting R percent to r a decimal
r = R/100 = 7%/100 = 0.07 per year,
then, solving our equation
t = 2680 / ( 8000 × 0.07 ) = 4.7857
t = 4.7857 years
The time required to
accumulate simple interest of $ 2,680.00
from a principal of $ 8,000.00
at an interest rate of 7% per year
is 4.7857 years (about 4 years 9 months).
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