Question

P.2.5
6. In how many years will * 3200 amount to 3400 at 2 1% p.a.? 2
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Answer 1

Answer:

2.5 years

Step-by-step explanation:

original amount = 3200

obtaining amount= 3400

Profit = 3400 - 3200 = 200

rate = 2 whole 1/2% = 5/2% = 2.5%

Duration =?

Duration = Profit* 100 / rate*original amount

= 200*100 / 2.5*3200

= 20000 / 8000

= 2.5 years