Question

10000 deposition in a bank at the rate of 18% per annum amounted to ₹22600 in few years. find the time taken. Please answer as fast as you can

Answer 1

Let the time be n years

Then the total amount received at the end of n years is 22600. This amount = principle + interest.

Therefore the total interest over n years = 22600 - 10000 = 12600

Now we apply the formula for si,

Si = p * rate * time / 100

12600 = 10000* 18*n / 100
=> n = 126/18 = 7 years

Answer 2

Answer:

the time taken is 7 years.