Question

Find the time in which Rs.1200 will amount to Rs.1536 at 3.5% per year.

Answer 1

Answer:

We know,

I=PRT/100

1536=1200×35×T/1000

1536=42×T

T=1536/42

T=36.57

Answer 2

Answer:

The time will be 8 years.

Step-by-step explanation:

In context to the question asked,

We have to find the time,

As per data given in the question,

We have,

Principal ( P ) = Rs. $1200$

Amount ( A ) = Rs. $1536$

Rate of interest ( R ) = $3.5\%$

First, we have to calculate interest,

For that, the formula to be used:

=> Interest = $A - P$

                  = $1536 - 1200$

                  = $336$

So, the interest will be Rs. 336

Now, for calculating the time:

The formula to be used:

$=> T = \frac{100\times I }{P \times R}$

Substituting the given values,

$=> T = \frac{100\times 336 }{1200 \times 3.5}$

$=> T = \frac{33600 }{4200}$

$=> T= 8 years$

Hence, the required time is 8 years.