Question

what sum of money will amount to rupees 1,170 in 3 years at 10% per annum simple interest?
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Answer 1

Answer:

1

In how many years will Rs. 750 amount to Rs. 900 at 8% per annum?

Uma Subramanian

Answered August 21

If you are talking of simple interest it is:

150*100÷750×8 = 2.5 years.(2 years 6 months)

If it is Compound Interest :

A =P(1+r/100)^n=>

900 = 750(1.08)^n

=>6/5 =(1.08)^n

=> 1.2 =(1.08)n hence < 3 years

Taking another method 1st year's interest =750×8% =60. Hence Principal for the 2nd year is Rs.810 ×8% = 64.80.

8% for the next year works to 874.80×8%=70 rupees. 900 -875 =25 rupees

For 12 months it is Rs.70/- therefore for how many months it is 25/- = 25*12/70= 4.28 months

Hence after 2 years and 4.28 months the amount will increase to 900 by compound interest.

3D Borderless sense screen.

Ramesh Mathrubootheswaran

Answered August 21

Principal amount = ₹ 750

Maturity amount = ₹ 900

Rate of interest = 8%

Let no.of years be n.

Hence if we consider simple interest, 750 * 8/100 * n = 900 - 750 = 150

Solving we get, 8n = 20

n = 2.5 years

If we consider compound interest, then, 750(1 + 8/100)^n = 900

((1.08)^n = 1.2

Solving we get, n = 2 Years 4 months approx.