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Answered

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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
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