Question

In what time will a sum of Rs. $1600$ at $5$% p.a. $C.I$ amounts to Rs. $1764$?

• A. $1$
• B. $1.5$
• C. $2$
• D. $3$

Answer 1

The correct option is C $2$

$A=P(1+\frac{R}{100}{)}^T$

where, $P=$ principle

$A=$ amount

$R=$ rate of interest

$T=$ number of years

Given, $P=Rs.1600,R=5\%$ and $A=Rs.1764$

by substituting the values we get ,

$\Rightarrow$ $1764=1600\times (1+\frac{5}{100}{)}^T$

$\Rightarrow$ $\frac{1764}{1600}=(\frac{21}{20}{)}^T$

$\Rightarrow$ $\frac{441}{400}=(\frac{21}{20}{)}^T$

$\Rightarrow$ $(\frac{21}{20}{)}^2=(\frac{21}{20}{)}^T$

$\therefore$ $T=2years.$