Question

In how many years will a sum of RS 2000 amount to RS 2315 at 9/2 par annum ?

Answer 1

The first interest = 2315-2000 =315
I = P × R ×N
315=2000 × 4.5 ×N / 100
N = 315×100/2000×4.5
= 3.5 y.
year = 3.5

Answer 2

I=2315-2000=315
p=2000
r=9/2
t=?
p*r*t/100=I
2000*9/2*t/100=315
90t=315
t=315/90
t=3.5