Question

How long will the sum of Rs 5,000 take to reach the amount RS 8750 at the rate of 15% per annum​

Answer 1

It will take 5 yrs the sum of 5000 will take to reach Rs 8750 at the rate 15%

Explanation:

T= ?

Amount = Rs 8750

R = 15%

P = Rs 5000

so

I = A-P

= 8750 - 5000

= Rs 3750

so

I = PTR/100

3750 = (5000*15*T)/100

or, 375000 = 75000*T

or, T = 375000/75000

so T = 5 yrs