Sunita invested ₹12,000 on simple interest at the rate of 10% p.a. to obtain a total amount of ₹20,400 after a certain period. For how many years did she invest to obtain the above amount?

7

Principal(P)= Rs 12000

Rate  = 10 %

Amount (A) = 20400

A = P + Simple Interest

20400 = 12000 + S.I.

S.I. = 8400

S.I. = \(\frac{P×R×T}{100}\)

8400 = \(\frac{12000×10×T}{100}\)

T = \(\frac{8400}{1200}\)

Time = 7 years