Question

in how many time will the sum of money amount to 4/3 of it self at 40/3 % per annum​

Answer 1

Let principal be 100

Amount = 4/3 x 100 = 400/3

Interest = 400/3 - 100

= 400-300/3

= 100/3

I = (P x R x T) / 100

100/3 = (100 x 40 x T) / (3 x 100)

T = (100 x 3 x 100)/(3 x 100 x 40)

T = 2.5 yr

T = 2 yr 6 months

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