In what time Rs 8000 will amount to Rs 12000 at 20% perannum simple interest.212212years312312years2 years3 years
Question
In what time Rs 8000 will amount to Rs 12000 at 20% per annum simple interest.
- 212212 years
- 312312 years
- 2 years
- 3 years
Solution
To find the time it takes for Rs 8000 to amount to Rs 12000 at 20% per annum simple interest, you can use the formula for simple interest:
I = PRT/100
Where: I = Interest P = Principal amount (the initial amount of money) R = Rate of interest T = Time period
In this case, you know the Principal amount (P = 8000), the Interest (I = 12000 - 8000 = 4000), and the Rate of interest (R = 20). You want to find the Time period (T).
You can rearrange the formula to solve for T:
T = I * 100 / (P * R)
Substitute the known values into the formula:
T = 4000 * 100 / (8000 * 20)
T = 400000 / 160000
T = 2.5 years
So, it will take 2.5 years for Rs 8000 to amount to Rs 12000 at 20% per annum simple interest.
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