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
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