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Question

A sum of Rs. 450 amounts to Rs. 495 in 2 years. In what time will the Sum of Rs. 820 amount to Rs. 943 at the same rate?


A
3 years
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B
2 years
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C
4 years
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D
6 years
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Solution

The correct option is A 3 years
P = Rs. 450; A = Rs. 495; T = 2 years; I = A - P = 495 - 450 = 45
$$I = \displaystyle \frac{PTR}{100}$$

$$R = \displaystyle \frac{100 \times I}{PT} = \frac{100 \times 45}{450 \times 2} = 5 \%$$

Now take
P = Rs. 820; A = Rs. 943; R = 5%; T = ?I = A - P = 943 - 820 = Rs. 123.

$$I = \displaystyle \frac{PTR}{100}$$

$$T = \displaystyle \frac{100 \times 1}{PR} = \frac{100 \times 123}{820 \times 5} = 3\, years$$

Mathematics

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