Rs.8000 become Rs.9261 in a certain interval of time at the rate of 5% per annum of C.I. Find the time ?
A. 4 years
B. 6 years
C. 2 years
D. 3 years
Answer : D. 3 years…
Explanation :
Amount = 9261 p = 8000
rate = 5%
A = p [ 1 + r / 100]n
9261 = 8000[1 + 5/100]n
=> 9261 / 8000 = [21 / 20]n
=> [21 / 20]3=[21 / 20]n
on comparing n = 3 so it will take 3years