Question

In what time will Rs. 8000 amounts to Rs. 9620 at 25% of the rate per annum?

• A. 1 1/4 years
• B. 2 1/4 years
• C. 2 1/2 years
• D. none

Answer 1

Answer: (B)

2 1/4 years

P = Rs. 8000, A = Rs. 9620
T = 25 % of R = $\frac{25}{100}\times R=\frac{R}{4}$

$I=A-P=9620-8000=1620$
I = $\frac{PTR}{100}$

$1620=\frac{8000\times \frac{R}{4}\times R}{100}$

$R^2=81$
$R=\sqrt{81}=9$

$T=\frac{R}{4}=\frac{9}{4}=2\frac{1}{4}$ years