ha2.400 in your account and the interest rate is 5%. After how many ye

1.	ha2.400 in your account and the interest rate is 5%. After how many yearswould you earn240 as interest.certain sum their
Answer» Given,Principal amount P = 2400,Rate of Interest R = 5%, Simple Interest SI = 240, Time period = T We know,SI = PRT/100240 = 24008T/100T = 240/(24*8) = 10/8T = 5/4 = 1 1/4 Therefore, In 1 year 3 months I will earn Rs 240 as interest on amount of Rs 2400.

ha2.400 in your account and the interest rate is 5%. After how many yearswould you earn240 as interest.certain sum their

Answer»

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

We know,SI = P*R*T/100240 = 2400*8*T/100T = 240/(24*8) = 10/8T = 5/4 = 1 1/4

Therefore, In 1 year 3 months I will earn Rs 240 as interest on amount of Rs 2400.