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Rs.8000 became Rs.9621 in a certain interval of time at the rate of 5%per annum of C.I.

Find the time.

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answer is B.

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Detailed Solution

Concep- Amount= Rs. 9261
Rate

= 5 %

Principal = Rs. 8000

CI =

Rs. 9261
Now, CI

= P 1 + R 100 n

92618000 = 105100 n

2120 = 2120 n

∴ n = 3 years

Hence, the correct answer is option 2.

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