Question

In what time rs.5000 will yield rs.1100 at 51/2 percent.

Answer 1

P = ₹5000

T = x

R = 51/2 = 25.5%

Formula = Interest = P*R*T/100

1100 = 5000*25.5*x/100

1100 = 50*25.5*x

44 = 25.5*x

x = 44/25.5

x = 0.862(approx)

x = T = 0.862 year

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