Question

In what time will $Rs.3600$ amount to $Rs.4320$ at $4$ per annum simple interest?

Answer 1

The amount is given as $Rs4320$ and the principle is given as $Rs3600$ with the rate of $4\%$. Then, the simple interest will be,

$S.I.=Amount-Principle$

$=4320-3600$

$=720$

Now,

$S.I.=\frac{P\times R\times T}{100}$

$720=\frac{3600\times 4\times T}{100}$

$T=\frac{720\times 100}{3600\times 4}$

$T=5years$