Question

(i) P=6000, R=7% per annum, A=7470​

Answer 1

Answer:

The answer is n= 3.5 yrs

Step-by-step explanation:

   Given that: P=6000, R=7%, A =7470

              We know that, A=P+I

                     =>  I=A-P -----(1)

          Also, I= P x n x r /100 ---------(2)

 Now equating (1) and (2), we get that,

              A-P= P x n x r/100

              7470-6000 = 6000 x n x 7 /100

               1470 = 60 x n x 7

                  210 = 60 x n

                           21 = 6 x n

                         n= 21/6

                             n= 3.5 yrs