In what time will Rs 7000 amount to Rs 8000 if simple interest is calculated at 5% p.a.
Given
Principle = Rs 7000
Amount = Rs 8000
Rate 5% SI;
To find: Time it will take to give amount Rs8000
Solution:
SI = Amount - Principle = 8000 - 7000 = 1000
SI = $\frac{PTR}{100} = \frac{7000\times T \times5}{100} = 1000$
So T = $\frac{20}{7} = 2.857$ years Answers
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