what sum of money will amount to 9261 - Wikitechy https://www.wikitechy.com/interview-questions/tag/what-sum-of-money-will-amount-to-9261/ Interview Questions Tue, 07 Sep 2021 06:15:18 +0000 en-US hourly 1 https://wordpress.org/?v=6.9 https://www.wikitechy.com/interview-questions/wp-content/uploads/2025/10/cropped-wikitechy-icon-32x32.png what sum of money will amount to 9261 - Wikitechy https://www.wikitechy.com/interview-questions/tag/what-sum-of-money-will-amount-to-9261/ 32 32 Rs.8000 become Rs.9261 in a certain interval of time at the rate of 5% per annum of C.I. Find the time ? https://www.wikitechy.com/interview-questions/compound-interest/rs-8000-become-rs-9261-in-a-certain-interval-of-time-at-the-rate-of-5-per-annum-of-c-i-find-the-time/ https://www.wikitechy.com/interview-questions/compound-interest/rs-8000-become-rs-9261-in-a-certain-interval-of-time-at-the-rate-of-5-per-annum-of-c-i-find-the-time/#respond Tue, 17 Aug 2021 14:34:24 +0000 https://www.wikitechy.com/interview-questions/?p=1781

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

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