Question

How long will it take for a sum of $Rs12600$ invested at $9\%$ per annum become to $Rs15624$ ?

Answer 1

Acording to the problem:

Given that:

Principle $=Rs12600$

Rate of interest per annum $=9$%.

Amount $=Rs15624$

Therefore,

Simple Intrest = amount - principle

$=15624-12600$

$=3024$

Therefore,

$time=\frac{S.I\times 100}{R\times P}$

$=\frac{3024\times 100}{9\times 12600}$

$=\frac{8}{3}hours$