Question

In what time will Rs 5600 amount to Rs 6720 at 8% per annum?

Answer 1

P=Rs. 5600 , A=Rs. 6720, R=8%

S.I. = A−P

= 6720−5600

= Rs. 1120

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

$=\frac{1120\times 100}{5600\times 8}$

$=\frac{1120}{448}$

$=2\frac{1}{2}$ years