Principal amount = 1289 Rs.
Rate of interest = 10%
Future amount = 1611.25
To Find :
The time period in years.
Solution :
To calculate the simple interest, the formula is,
A=P(1+rt)A=P(1+rt)
A = Future amount = 1611.25
P = Principal amount = 1289
r = Rate of interest = \frac{10}{100}
100
10
= 0.10
Let the time in years represents by 't'.
1611.25 = 1289(1+0.10t)
1 + 0,10t = \frac{1611.25}{1289}
1289
1611.25
0.10t = 1.25 - 1
t = \frac{0.25}{0,10}
0,10
0.25
t = 2.5 years
It will take 2.5 years to become Rs. 1611.25.
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Answer:
It will take 2.5 years to become Rs.1611.25
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