Question

How long will it take for a sum of 12600 invested at 9% per annum become​

Answer 1

Step-by-step explanation:

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=

100

PRT

⇒T=

P×R

S.I×100

=

12600×9

3024×100

=2years8months.