Question
A sum of Rs 12,000 is invested at 7% simple interest per
annum. In how many years will the interest amount be Rs 5,040?Solution
SI = (P × R × T)/100 5,040 = (12,000 × 7 × T)/100 5,040 = 840T T = 5,040 / 840 = 6 years Answer: 6 years.
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