Question

In what time Rs 1200 will become Rs 1344 at 6% per annum?

• A. $2\frac{1}{2}years$
  
• B. 3 years
  
• C. 2 years
  
• D. $3\frac{1}{3}years$
• E. None of these

Answer 1

The correct option is C 2 years


Here, P =Rs 1200, A =Rs 1344,
R =6% p.a
$\therefore$ Interest (I) =1344 -1200=144
$\therefore$ Time (T) =$\frac{100\times I}{P\times R}=\frac{100\times 144}{1200\times 6}=2$ years.