Question

In what period will $Rs.5,200$ amounts to $Rs.7,384$ at $12$% per annum simple interest?

Answer 1

P = $5,200$ Rs
A = $7,384$ Rs
R = $12$%
T = ?
$\text{S.I = A-P}=7,384-5,200=2,184$ Rs

We know, $\text{S.I}=\frac{\text{P*T*R}}{100}$
$⟹2184=\frac{(5200\times T\times 12)}{100}$
$T=\frac{(2184\times 100)}{5200\times 12}$
$=\frac{218400}{62400}=3.5$ years.

Hence, the time period required is $3.5$ years.