SIMPLE INTEREST 1

Sonam deposited the amount of 30,000/= in a bank which gives an interest rate of 4% and got a profit of 6,000/=. For how long did she deposit the money in a bank? 

Solution

I = 6,000/=, P = 30,000/=, T = ?, R = 4%

I  = PRT

      100

6,000  = 30,000 x 4 x T

                      100

6,000  = 30,000 x 4 x T

                      100

6,000  = 1,200 x  T

                     

6,000  = 1,200T

⁵6,000  =  1,200T

  1,200      1,200

T = 5

Hence the time was  5 years.

TRY THIS………………..

Sonali deposited the amount of 30,000/= in a bank which gives an interest rate of 4% and got a profit of 8,400/=. For how long did she deposit the money in a bank?