Question

A shopkeeper sold goods worth Rs. 3 millions during 2008. If he is able to increase his sale by 15% p.a.then determine the year in which he would achieve annual sale of Rs. 25 millions?​

Answer 1

Step-by-step explanation:

principal = 3000000

rate of interest p.a. = 15%

let the time be x

amount =25000000

now

amount= principal - SI

25000000= 3000000 - SI

SI= 25000000- 3000000

22000000

now

$si = (p \times r \times t )\ \div100$

22000000= (3000000× 15× x ) ÷ 100

22000000= 450000x

x= 22000000÷450000

x=48

hence the answer is 48 years

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