Question

8. Calculate the time in which
become rs 5000 would become rs. 5500 at interest rate of 8% per annum.
​

Answer 1

Answer:

We have,

P=Rs. 5000

A=Rs. 5500

R=8%

T=?

We know that

S.I=

100

PRT

And A=P+S.I

Therefore,

A−P=

100

PRT

5500−5000=

100

5000×8×T

500=50×8×T

10=8×T

T=1.25 years

Hence, this is the answer.