Question

Jaya deposits Rs 40,000 at an interest of 9% per annum, compounded annually.

How long will it take to get Rs 7,200 as interest on the amount she deposited?

1 .exactly 2 years

2. more than 3 years

3. slightly less than 2 years but more than 1 year

4. slightly more than 2 years, but less than 3 years

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Answer 1

Answer:

option 1

Step-by-step explanation:

40,000×9/100 = 400×9= 3600 for 1 year

so, 3600+3600= 7200 i.e, exactly 2 year