LIVE Course for free

Rated by 1 million+ students
Get app now
0 votes
35 views
in Aptitude by (54.0k points)
closed by
In what time Rs.6250 will amount to Rs 6760 at 4% per annum compounded annually.
1. 2 years
2. 3 years
3. 4 years
4. 5 years

1 Answer

0 votes
by (30.0k points)
selected by
 
Best answer
Correct Answer - Option 1 : 2 years

Given

Amount = Rs.6760

Rate = 4% per annum

Principal = Rs.6250

Formula used

Amount = Principal (1 + r%)t

Where r and t are rate and time respectively

Calculation

6760 = 6250 × [ 1 + (4/100)]t

⇒ 6760/6250 = [ 1 + (4/100)]t

⇒ (26/25)2 = (104/100)t

⇒ (26/25)2 = (26/25)t

⇒ t = 2

Time is 2 years

Welcome to Sarthaks eConnect: A unique platform where students can interact with teachers/experts/students to get solutions to their queries. Students (upto class 10+2) preparing for All Government Exams, CBSE Board Exam, ICSE Board Exam, State Board Exam, JEE (Mains+Advance) and NEET can ask questions from any subject and get quick answers by subject teachers/ experts/mentors/students.

Categories

...