How long will it take for a sum of ₹ 12600 invested at 9% per annum

1.	How long will it take for a sum of ₹ 12600 invested at 9% per annum become to ₹ 15624?
Answer» Here A = ₹ 15,624 R = 9% T = ? P = ₹ 12,600 ∴ I = A – P = 15,624 – 12,600 = ₹ 3024 Also I = \(\frac {PRT}{100}\) ∴ 3024 = \(\frac {12600\times9\times T}{100}\) ∴ T = \(\frac {3024 \times 100}{12600\times 9} = \frac {24}{9} = \frac {8}{3} = 2\frac 23\) years

How long will it take for a sum of ₹ 12600 invested at 9% per annum become to ₹ 15624?

Answer»

Here A = ₹ 15,624

R = 9% T = ?

P = ₹ 12,600

∴ I = A – P = 15,624 – 12,600 = ₹ 3024

Also I = \(\frac {PRT}{100}\)

∴ 3024 = \(\frac {12600\times9\times T}{100}\)

∴ T = \(\frac {3024 \times 100}{12600\times 9} = \frac {24}{9} = \frac {8}{3} = 2\frac 23\) years