Question

In how much time will ₹1200 amount to ₹1680 at 16% per annum simple interest.​

Answer 1

Answer:

formula- p*r*t/100

si = a-p

1680-1200

that is 480 rupees.

now when si is given,

si*100/1200*16

= 480*100/1200*16

= 48000/19200

= 2.5 yrs