Question

In how many years will Rs 870 amount to Rs 1044 the rate of interest being 2 1/2 % p.a. ?

Answer 1

Hope it helps you..

Answer 2

₹870 will amount to ₹1044 at rate of 5/2% in 8 years.

Principle =₹870

Amount=₹1044

Simple interest=amount principle

S.I=1044-870=₹174

WeknowS.I=principle×rate×time/100

S.i=p×r×t/100

P=₹870 rate=2 1/2=5/2%

So time t=s.i×100/p×r

T=174×100×2/5×870

Time =34800/4350

Time =8 years.

So time in which ₹870 amounts to ₹1044 is 8 years.