Question

in how many years will ₹ 870 amount to ₹1044, the rate of interest being 5/2% per annum?

Answer 1

SIMPLE INTEREST = 1044-870= RS.174
Rate%=5/2%
we have to divide rate so we reciprocal it
SO IT IS 2/5%


SO TIME = SI×100/P×R
= 174×100×2/5×870
=8 YEARS
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