Question

In how many years will 60000 amount to 65400 at 3 % p.a.?

a)

c)

1

3

b) 2

d) 4​

Answer 1

Answer:

3 years are needed to get 65400

Answer 2

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

To Find : Time period in years

1

2

3

4

Solution:

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

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