Question

In how many years Rs 1200 becomes Rs 1632 at 12% p.a simple interest?

Answer 1

3 years

Explanation:

We would like to calculate in how much time Rs 1200 will become Rs 1632 at the rate of 12% per annum. Firstly we know that the SI can be calculated by ,

`\longrightarrow \langle\pink{{\boldsymbol{ SI =(Principal * Rate * Time )/(100)}}}}\rangle`

Also the total amount is calculated by adding SI and the initial amount ; as ,

`\longrightarrow \pink{{\boldsymbol{ Amount= Principal + SI }}}`

Firstly lets find SI as ,

`\longrightarrow SI = Rs 1632-Rs1200\\`

`\longrightarrow SI = Rs 432`

Using the first formula stated above, we have;

`\longrightarrow Rs 432=((Rs 1200)(12)(t))/(100)\\`

`\longrightarrow t =( 432* 100)/(1200* 12) yrs \\`

Simplify,

`\longrightarrow \boldsymbol{\underline{\underline{{ time = 3\ years }}}}`

And we are done!