Question

In what time will a sum of Rs. 390625 amounts to Rs. 456976 at 4% per annum ?

• A. 3 years
• B. 4 years
• C. 5 years
• D. None

Answer 1

The correct option is B 4 years

$P{(1+\frac{\mu }{100})}^t=A$

$390625{(1+\frac{4}{100})}^t=456976$

${(1+\frac{4}{100})}^t=\frac{456976}{390625}$

${\left(\frac{104}{100}\right)}^t={\left(\frac{26}{25}\right)}^4$

${\left(\frac{26}{25}\right)}^t={\left(\frac{26}{25}\right)}^4$

$t=4$

Hence, the required time is $4$ years