A sum of Rs. 3,50,000 is lent at simple interest. When the interes

calculated by taken the rate as 6.8% instead of 8.6 , the difference ve

be Rs.56,700. At what time the amount will be cleared?can Anyone have this questions ana

calculated by taken the rate as 6.8% instead of 8.6 , the

By Jasmine

Step-by-step explanation:Simple interest is a method of calculating the interest that is charged on fixed deposits, savings accounts, and loans. It is calculated on the principal amount. Simple interest does not add any interest rate on the interest amount gathered on the principal amount.