Question

In what time will Rs 17800 amount to Rs 19936 at 6% per annum?

Answer 1

Let the require time be n years 

Here Principal P = Rs 17,800 

Rate of interest r = 6% per annum 

Amount A = Rs 19,936 

A = P + I 

19936 = 17800 + 1 

19936 – 17800 = I 

2136 = I 

Simple Interest (I) = \(\frac{pnr}{100}\)

2136 = \(\frac{17800\,\times\,n\,\times\,6}{100}\)

n = \(\frac{2136\times100}{17800\times6}\)

n = 2 years 

Required time = 2 years