Question

How long will it take for sum of I 16200 invested 5% per annum becom 18600?
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Answer 1

Answer:

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Answer 2

Answer:

2.9629 years.

Step-by-step explanation:

We have,

Principal, P= RS.16200 , R = 5%

Amount , A = 18600

We know that A = P + S.I

⇒ 18600 = 16200 + S.I

⇒ S.I = 18600 - 16200 = 2400

Now S.I = PRT/100

⇒ T = S.I × 100/P×R

⇒ T = 2400 × 100/16200×5

⇒ T = 2400000/81000 = 2.9629 Years.