Question

How long will it take for a sum of Rs.12600 invested at 9% per annum beocme to Rs.15624?

Answer 1

Principle = rs 12600

Rate of interest per annum = 9%

Amount = rs 15624

Therefore,
S.I =amount - principle

=15624 - 12600

=3024

So,

time = S.I x 100/ R x P

=3024 x 100/ 9 x 12600

=8/3 years

= 2yeara 8 months

hope this help you.....,

Answer 2

Hi ,

It is given that ,

Principal = P = Rs 12600

Rate of interest ( R ) = 9%

Amount ( A ) = Rs 15624

Let the Time = T years

Simple interest ( S.I ) = A - P

S.I = 15624 - 12600

S.I = Rs 3024

( PTR )/100 = S.I

( 12600 × T × 9 )/100 = 3024

T = ( 3024 × 100 )/( 12600 × 9 )

= 2.66 yr

I hope this helps you.

: )