4. You have *2400 in your account and the interest rate is 5% p.a. Aft

1.	4. You have *2400 in your account and the interest rate is 5% p.a. After how manyyears would you earn 240 as interest?
Answer» Given,Principal amount P = 2400, Rate of Interest R = 5%,Time period T =?, Simple Interest SI = 240 Then,SI = PRT/100240 = 24005T/100240/24*5 = TT = 10/5 = 2 Therefore, after 2 years interest will be 240 on Rs 2400

4. You have *2400 in your account and the interest rate is 5% p.a. After how manyyears would you earn 240 as interest?

Answer»

Given,Principal amount P = 2400, Rate of Interest R = 5%,Time period T =?, Simple Interest SI = 240

Then,SI = P*R*T/100240 = 2400*5*T/100240/24*5 = TT = 10/5 = 2

Therefore, after 2 years interest will be 240 on Rs 2400