Question
Download Solution PDFA man invested Rs 2400 at rate of 20% p.a. on simple interest for T years and received Rs 1440 as interest. Find the value of 2T?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Principal (P) = ₹2400
Rate (R) = 20% per annum
Interest (I) = ₹1440
Formula used:
Simple Interest (I) = P × R × T / 100
Calculations:
1440 = 2400 × 20 × T / 100
⇒ 1440 = 480 × T
⇒ T = 1440 / 480
⇒ T = 3 years
∴ 2T = 2 × 3 = 6
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