Question

how long will it take for a sum of 12600rupees invested at 9% per annum become to 15624rupees?​

Answer 1

2 years 8 months

Explanation:

Given,

Principle = 12600

Rate = 9

Amount = 15624

To find,

Time

Procedure,

First, we need to find Simple Interest (S.I.)

$simple \: interest = amount - principle$

$S.I. = 15624 - 12600$

$S.I. = 3024$

Now,

$time= \frac{S.I.\times 100 }{p×r}$

$time = \frac{3024 \times 100}{12600 \times 9}$

$time = \frac{24}{9}$

$time =2\frac{2}{3}$

Now, in order to convert the time in months, we need t multiply it by 12.

$time = 2\frac{2}{3}×12months$

$time = 32 \:months$

$32months = 2\: years\: 8\:months$