ks9815746276
Answered

Looking for trustworthy answers? Westonci.ca is the ultimate Q&A platform where experts share their knowledge on various topics. Join our platform to connect with experts ready to provide accurate answers to your questions in various fields. Connect with a community of professionals ready to help you find accurate solutions to your questions quickly and efficiently.

What time will it take to obtain double of the interest on Rs. 2000 for 3 years at the rate of 15% per annum? ​

Sagot :

Answer:

6 years

Step-by-step explanation:

Given values :

  • Principal amount = Rs. 2000
  • Time period = 3 years
  • Rate = 15% per annum

To Find :

  • Time taken to obtain twice the interest

Solving :

  • First, find the interest.
  • I = Prt
  • I = 2000 x 0.15 x 3
  • I = 6000 x 0.15
  • I = Rs. 900
  • So twice the interest = Rs. 1800
  • Now using the [I = Prt] formula,
  • t = I/Pr
  • t = 1800/(2000 x 0.15)
  • t = 1800 / 300
  • t = 6 years
Thanks for using our platform. We're always here to provide accurate and up-to-date answers to all your queries. We hope this was helpful. Please come back whenever you need more information or answers to your queries. Find reliable answers at Westonci.ca. Visit us again for the latest updates and expert advice.