Question

In what time will the interest on $Rs1068.80$ be $Rs6012$ at $21\frac{1}{4}\%$ p.a.?

Answer 1

$$\begin{gathered} P=Rs1068.80 \\ R=21\frac{1}{4}\%p.a.=\frac{85}{4}\%p.a. \\ SI=Rs6012 \\ T=\frac{SI\times 100}{P\times R}=\frac{6012\times 100}{1068.80\times {\displaystyle \frac{85}{4}}}=26.47years \end{gathered}$$