Question

In how many years will a sum of ₹2,000 amount to ₹2,315 at 9/8 per annum
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Answer 1

ANSWER :-. Let the no. of yrs be x

Interest = Rs. 2315 - Rs. 2000

= Rs. 315

I = P×R×T

$I = \frac{ P×R×T}{100}$

$315 = \frac{2000 \times \frac{9}{8} \times x}{100}$

$315 = \frac{250 \times 9 \times x}{100}$

$315 = \frac{2250x}{100}$

$31500 = 2250x$

$x = \frac{31500}{2250}$

$x = 14yrs$

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