Question

in how many years will ₹60000 amount to ₹ 65400 at 3 % p.a.​

Answer 1

Answer:

SI=65500-60000=5400

T=5400×100/60000×3=3y

Answer 2

Given : ₹60000 amount to ₹ 65400 at 3 % p.a.​

To Find : Time period

Solution:

Assuming SI

P = 60000

R = 3

T = ?

SI = P * R * T /100

A = 65400

SI = 65400 -  60000 = 5400

=> 5400 = 60000 * 3 * T/100

=> 5400 = 1800T

=> T = 3

3 Years

Assuming CI

A = P(1 + R/100)^T

=> 65400 = 60000(1 + 3/100)^T

=> T = 2.91

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