Question

In what time will a sum of Rs. $800$ at $5$% p.a. CI amounts to Rs. $882$?

• A. $1$ year
• B. $2$ year
• C. $3$ year
• D. $4$ year

Answer 1

The correct option is B $2$ year

$\Rightarrow$ Here, we have $P=Rs.800,A=Rs.882$ and $R=5\%$

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

$\Rightarrow$ $882=800\times (1+\frac{5}{100}{)}^T$

$\Rightarrow$ $\frac{882}{800}=(1+\frac{1}{20}{)}^T$

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

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

$\therefore$ $T=2years$