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Rs.8000 become Rs.9261 in a certain interval of time at the rate of 5% per annum of C.I. Find the time?

Correct answer: D. 3 years

  • A. 4 years
  • B. 6 years
  • C. 2 years
  • D. 3 years

Explanation

The growth factor is Rs. 9261 / Rs. 8000 = 1.157625, and 1.05^3 = 1.157625. Therefore the interval is 3 years at 5% compound interest. The likely mistake is choosing option a, 4 years, by counting the number of interest applications incorrectly.

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