Question

a certain sum of money amounts to 2613 in 6 years at the rate of 5% per annumby simple interst,in hom many years it will amount to 3015 at the same rate?

Answer 1

best way to go about this problem is to work in approximation. A quick way to calculate a 5% interest rate is just calculate it as being 10% and divide the result by 2. 
After 1 year, then .05 * 2613 = approx. 130$ 
After 1 year, total amount in piggy bank is 2600 + 130 = 2730 

After 2nd year, if interest is compounded, interest earned is .05 * 2730 = approx. 140$ 
After 2nd year, total amount in piggy bank is 2730 + 140 = 2870 

After 3rd year, interest earned is .05 * 2870 = approx. 145 
After 3rd year, total amount in piggy bank is 2870 + 145 = 3015 

Eureka, answer is 3 years. I think we have to assume compounding in this problem. You then have to add 3 + 6 = 9years to become 3015$

Answer 2

Answer:

Step-by-step explanation:

case1

P = A×100/100+rt

2613×100/130=2010

P=2010

Case2

Amt= 3015

Si= 3015-2010=1005

Time= 1005×100/2010×5= 10 years ans