ECONOMICS
COMPOUND INTEREST
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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150
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192
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1350
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1392
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Detailed explanation-1: -Expert-Verified Answer = 12.5 years. Hope this helps! because I didn’t done it on my own. Don’t mark my answer as brainliest.
Detailed explanation-2: -Expert-Verified Answer Simple interest is Rs 160 on Rs 1000 for 2 years at 8% per annum.
Detailed explanation-3: -Simple Interest Formula To calculate simple interest, multiply the principal amount by the interest rate and the time. The formula written out is “Simple Interest = Principal x Interest Rate x Time.” This equation is the simplest way of calculating interest.
Detailed explanation-4: -Interest formula for simple interest: I = Prt where I is the total amount of interest accrued; over t time periods at a simple interest rate, r, and where the original amount invested or borrowed is P.