Answer:
considering it was simple interest,
We have the formula:
I = PRT ÷ 100
where,
- I = Interest
- P = principal
- T = time (in years)
- R = rate
for the first part of the question,
Thus, I = (2160 × 20 × 4)÷ 100
I = Rs. 1728
Now, for the second part,
- P = Rs. 1800
- I = 1728
- R = 12
T = 100×I÷PR
T = 100 × 1728÷(1800 × 12)
T = 8 Years
