Question

Find the time in which Rs. 2,000 will amount to Rs. 2,330 at 11% p.a.?

Answer 1

Amount (A) = Rs. 2330

Principal (P) = Rs. 2000

∴ S.I. = A - P

= Rs. 2330 - Rs. 2000

= Rs. 330

R = 11 % p.a.

∴ Time = `("S.I." xx 100)/("P" xx "R") = (330 xx 100)/(2000 xx 11)`

`= 3/2 = 1 1/2` years