Answer:
The time duration of the investment is 3 years.
Step-by-step explanation:
If P be the principal amount that is invested for T years at a simple interest of R%, then after T years, the interest that will be obtained will be [tex] I = \frac{PTR}{100}[/tex] ........... (1)
In our case P = Rs. 900, I = Rs. 324 and R = 12% per annum then, we have to find the T i.e. time duration of the investment.
Now, from equation (1) we have,
[tex]324 = \frac{900 \times 12 \times T}{100}[/tex]
⇒ T = 3 years.
Therefore, the time duration of the investment is 3 years. (Answer)
