Question

In how many years will a sum of 2000 amount to 3 2315 at 45 per annum ?
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Answer 1

Correct Question

In how many years will a sum of 2000 amount to 2315 at 45 per annum ?

Answer

Given :

Principle : ₹2000

Total amount : ₹2315

Rate of interest : 45%

To find :

The time (in years) took to amount to 2315.

Solution :

First, we should find the interest amount (simple interest).

Simple interest :

$\sf \dashrightarrow Amount - Principle$

$\sf \dashrightarrow 2315 - 2000$

$\dashrightarrow$₹$\sf 315$

Now, we can find the time took (in years).

Time (in years) :

$\sf \dashrightarrow SI = \dfrac{P \times R \times T}{100}$

$\sf \dashrightarrow 315 = \dfrac{2000 \times 45 \times T}{100}$

$\sf \dashrightarrow 315 = \dfrac{2000 \times 9 \times T}{20}$

$\sf \dashrightarrow 315 = \dfrac{18000 \times T}{20}$

$\sf \dashrightarrow 315 = \dfrac{18000T}{20}$

$\sf \dashrightarrow T = \dfrac{315 \times 20}{18000}$

$\sf \dashrightarrow T = \dfrac{315 \times 1}{900}$

$\sf \dashrightarrow T = \dfrac{315}{900}$

$\sf \dashrightarrow T = \dfrac{7}{20}$

Hence, the time taken to return the amount back is 7/20 years.