Question
Shivam invested 20000 at 12% p.a. simple interest for
‘x’ months. If at the end of ‘x’ months, he received a total amount of Rs.23200. What is the value of ‘x’ (in years)?Solution
=> (20000 × 12 × x)/(12 × 100) = 23200 – 20000 => 200 × x = 3200 => x = 16 years
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