Suptisree BiswasKnowledge Contributor
If the simple interest for 6 years be equal to 30% of the principal, it will be equal to the principal after
If the simple interest for 6 years be equal to 30% of the principal, it will be equal to the principal after
Principal = Rs. x
Interest = 30x/100 = Rs. 3x/10
Therefore, Rate = (Interest ×100)/(Principal × Time)
= (3x × 100)/(10 × x × 6) = 5% per annum
Case II,
Interest = Rs. x
Time = (x × 100)/(x × 5) = 20 years
Answer: The simple interest will be equal to the principal after 20 years.