In what time will ₹3600 amount to ₹4320 at 8% per annum simple interest?

Answer

To solve the question, "In what time will ₹3600 amount to ₹4320 at 8% per annum simple interest?", we will follow these steps:

### Step 1: Identify the given values
- Principal (P) = ₹3600
- Amount (A) = ₹4320
- Rate of Interest (R) = 8% per annum

### Step 2: Calculate the Simple Interest (SI)
The formula for the amount in terms of principal and simple interest is:
\[ A = P + SI \]
We can rearrange this to find the simple interest:
\[ SI = A - P \]

Substituting the values:
\[ SI = 4320 - 3600 \]
\[ SI = 720 \]

### Step 3: Use the Simple Interest formula to find Time (T)
The formula for Simple Interest is:
\[ SI = \frac{P \times R \times T}{100} \]
We need to find T, so we rearrange the formula:
\[ T = \frac{SI \times 100}{P \times R} \]

### Step 4: Substitute the known values into the formula
Substituting SI = 720, P = 3600, and R = 8:
\[ T = \frac{720 \times 100}{3600 \times 8} \]

### Step 5: Simplify the equation
Calculating the denominator:
\[ 3600 \times 8 = 28800 \]
Now substituting this back into the equation:
\[ T = \frac{72000}{28800} \]

### Step 6: Perform the division
Now, divide 72000 by 28800:
\[ T = 2.5 \]

### Step 7: State the final answer
The time (T) is 2.5 years.

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