Question

How long will it take a sum of rupees 12600 invested at 9 purcent per annum become rupees 15624?.. plz explain it's answer in long form plz plz help me by explain me its answer in long form​

Answer 1

We have,

Principal,P=Rs.12600 Rate,R=9%

Amount,A=Rs.15624

We know that A=P+S.I

⇒15624=12600+S.I

⇒S.I=15624−12600=3024

Now, S.I= 100PRT

⇒T= P×RS.I×100

​

= 12600×93024×100

=2years8months.