Ravi lent ₹12,000 to his friend at a simple interest rate of 8% per annum. After how many years will the total amount become ₹16,800 ?
Given
Principal (P) = ₹ 12000
Rate (R) = 8% per annum
Total Amount (A) = ₹ 16800
Formula Used
Simple Interest (SI) = Amount - Principal
Time (T) =
Solution
Calculate the total Simple Interest earned:
SI = 16800 - 12000 = 4800
Final Answer
So the correct answer is (b)
English
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