Question

A some of money put at 11% per annum amounts Rs 4491 in 2 years 3 months. What will it amount to in 3 years at the same rate ?

Answer 1

T = 2 years 3 months $=2+\frac{3}{12}=2+\frac{1}{4}=\frac{9}{4}$

Let P be the principle amount

$A=P+\frac{PRT}{100}$

$4491=P(1+\frac{11\times 9}{4\times 100})$

$4491=P\left(1.2475\right)$

$\Rightarrow$ P = 3600 Rs.

$SI=\frac{3600\times 11\times 3}{100}=1188Rs.$

A = 3600 + 1188 = 4788 Rs.