Rs.8000 become Rs.9261 in a certain interval of time at the rate of 5% per…
2025
Rs.8000 become Rs.9261 in a certain interval of time at the rate of 5% per annum of C.I. Find the time?
- A.
4 years
- B.
3 years
- C.
2 years
- D.
5 years
Attempted by 29 students.
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Correct answer: B
Solution: Use the compound interest formula A = P(1 + r)^t.
Substitute P = 8000, A = 9261, r = 5% = 0.05: 9261 = 8000 * (1.05)^t.
Divide both sides by 8000: (1.05)^t = 9261/8000 = 1.157625.
Recognize that 1.05^3 = 1.157625, so t = 3 years.
Therefore the time is 3 years.