Question 46

In 5 years, ₹ 5,000 amounts to ₹ to 9,000. In what time at the same rate will ₹ 600 amounts to ₹ 900?

Solution

Given, Amount (A) = ₹ 9,000

Principal amount (P) = ₹ 5,000

Time (T) = 5 years

$$=$$> 9000 = 5000 + $$\frac{5000\times5\times R}{100}$$

$$=$$> 4000 = 250R

$$=$$> R = 16%

When Amount (A) = ₹ 900

Prinicipal (P) = ₹ 600

Rate (R) = 16%

Time = T

$$=$$> 900 = 600 + $$\frac{600\times T\times16}{100}$$

$$=$$> 300 = 96T

$$=$$> T = 3.125 years = 3 years(approximately)

Hence, the correct answer is Option B

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