If you have \(Rs. \ 2400\) in your account and the interest rate is \(5\% \) per annum, after how many years would you earn \(Rs. \ 240\) as interest?
Speed
00:00
03:53
If you have \(Rs. \ 2400\) in your account and the interest rate is \(5\% \) per annum, after how many years would you earn \(Rs. \ 240\) as interest?
Answer
2 years
To Keep Reading This Answer, Download the App
4.6
Review from Google Play
To Keep Reading This Answer, Download the App
4.6
Review from Google Play
Solution
Principal,P \(=Rs. \ 2400\)
Rate,R \(=5\% \) p.a.
Simple interest ,\(S.I.=Rs. \ 240\)
We know that \(S.I. =\frac{PRT}{100}\),
Time,T \(=\frac{S\ldotp I\ldotp }{P\times R}\times 100\)
\(=\frac {240\times 100}{2400\times 5}\) years
\( = 2\) years
Hence, in \(2 \) years we will earn Rs 240 as interest.
Rate,R \(=5\% \) p.a.
Simple interest ,\(S.I.=Rs. \ 240\)
We know that \(S.I. =\frac{PRT}{100}\),
Time,T \(=\frac{S\ldotp I\ldotp }{P\times R}\times 100\)
\(=\frac {240\times 100}{2400\times 5}\) years
\( = 2\) years
Hence, in \(2 \) years we will earn Rs 240 as interest.
To Keep Reading This Solution, Download the APP
4.6
Review from Google Play
To Keep Reading This Solution, Download the APP
4.6
Review from Google Play
Correct27
Incorrect0
Still Have Question?
Watch More Related Solutions
Look at this land which has all the garbage of the city dumped. What is it called?（ ）
Carefully observe the following pictures/figures and answer the questions:
Look at these children putting garbage heaps in pits. Why are they doing so? （ ）
Look at these children putting garbage heaps in pits. Why are they doing so? （ ）
Load More
More Solution Recommended For You