Question

calculate the time in which $ 5,000 would become $ 5,500 at am interest is 12=1/2%​

Answer 1

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.