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Q.

If P=Rs.37500 and R=18%, in what time will it amount to Rs.52250?

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a

1 year

b

2 years

c

3 years

d

4 years

answer is B.

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Detailed Solution

I=PTR100

I=375×T×18100(1)

522.50=375.00+I

I=147.50(2)

147.50×100=375×T×18

14750=T×375×18

T=14750375×18=147506750

=2.185 years

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