In how many years will Rs 20,000 amount to RS 23,000 at 5% pa. simple – InterviewSolution

1.	In how many years will Rs 20,000 amount to RS 23,000 at 5% pa. simple interest?
Answer» Principal = Rs 20000Amount = Rs 23000Rate = 5%Let time be T yrs.S.I. = Amount - PrincipalS.I. = 23000 - 20000 = 3000A to QS.I. = P x R x T/1003000 = 20000x 5 x T / 100T = (3000 x 100) / (20000 x 5)T= 300000/100000T = 3yrs.

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