Login

In how many years will Rs. 5000 amount to Rs. 6200 at 6% per annum

We have,

P = Rs. 5000 ; R = 6% p. a.  ;  T = ?  ; A = Rs. 6200

Now,  amount, A = P + I

 So,  6200 = 5000 + 300T

 ⇒ 300 T = 6200 - 5000

 ⇒ 300 T = 1200

 ⇒  T = 1200 / 300 = 4 YEARS

  • 1
View Full Answer

Answer:

We know that Amount = (Principle Amount - SI or Simple Interest)

SI = Amount - Principle Amount ( Here principle amount = Rs. 5000 and amount = Rs. 6200)

SI = 6200 - 5000 = Rs. 1200.

As we know that SI = P x r x t /100 (Where P = Prnciple Amount = Rs 5000, r = rate of interest = 6% and t = time = ?)

So:

SI = P x r x t /100

1200 = 5000 x 6 x t/100

30000t = 120000

t = 120000/30000 = 4 years

Ans: 4 years.

  • 0
What are you looking for?