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I n space w h a t space t i m e space w i l l space R s. space 6880 space a m o u n t space t o space R s. space 7224 comma space i f space t h e space s i m p l e space i n t e r e s t space i s space c a l c u l a t e d space
a t space 7 1 half percent sign space p e r space a n n u m ?

Please provide solution to this question

Asked by Topperlearning User 21st September 2016, 3:32 PM
Answered by Expert
Answer:

A m o u n t left parenthesis A right parenthesis equals R s. space 7224
P r i n c i p l e left parenthesis P right parenthesis space equals space R s. space 6880
t h e r e f o r e space S i m p l e space i n t e r e s t space equals space A space minus space P
space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space equals space R s. space 7224 minus space R s. space 6880 space
space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space equals space R s. space 344
space space space space R a t e left parenthesis R right parenthesis space equals space 7 1 half percent sign space equals space 15 over 2 percent sign p e r space a n n u m space
T h e r e f o r e space T I m e space equals fraction numerator S I cross times 100 over denominator P cross times R end fraction equals space fraction numerator 344 cross times 100 cross times 2 over denominator 6880 cross times 15 end fraction equals space 2 over 3 y e a r s space equals space 2 over 3 cross times 12 space m o n t h s
space space space space space space space space space space space space space t i m e space i s space 8 space m o n t h s

Answered by Expert 21st September 2016, 5:32 PM
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