Question

Let us write by calculating the number of years for which the interest of ₹ 600 at the rate of simple interest in percent per annum

December 27, 2023

Answer

Principal (P) = ₹ 600

Rate (r) = 8 %

Interest (I) = ₹ 168

Time = ?

Time = $\frac{\text { Interest } × 100}{\text { Principal } × \text { Rate }} \\$

= $\frac{168 × 100}{600 × 8}$

= $\frac{21}{6}$

= $\frac{7}{2} yrs=3 \frac{1}{2} \\$ yrs

∴ Time = 3 $\frac{1}{2}$ yrs

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