Question

Find the time when:
Rs.1250 amounts to Rs.1950 at 16% per annum.

Answer 1

Answer:

3.5 Years

Step-by-step explanation:

Total Interest received = Rs. 1950 - Rs. 1250 = Rs. 700

Principal = 1250

Number of Years = ?

Rate of Interest = 16% = 16/100 = 0.16

Interest = PNR / 100

700 = 1250 * N * 0.16

700 = 200 * N

700 / 200 = N

N = 3.5 Years