CameraIcon
CameraIcon
SearchIcon
MyQuestionIcon


Question

Archana wants to buy a TV that costs Rs. $$19,000$$ but she has only Rs. $$15,000$$. So she decides to invest her money at $$8\%$$ simple interest per year. After how many years, will she be able to buy the TV?


Solution

Amount of money she needs extre $$=19000-15000=$$ Rs. $$4000$$
So, she needs Rs. $$4000$$ extra as simple interest.
We have to find time $$T$$ when $$SI=4000$$
Now, $$SI=\cfrac{P\times R\times T}{100}$$
 $$\Rightarrow 4000=\cfrac{15000\times8\times T}{100}$$
 $$\Rightarrow 4000={150\times8\times T}$$
 $$\Rightarrow T=3.33$$ years.

Mathematics

Suggest Corrections
thumbs-up
 
0


similar_icon
Similar questions
View More



footer-image