In 5 years 5000 amounts to 9000 in what time at the same rate will 600 amounts to 900?
Solution(By Examveda Team)
According to question,P = 5000, I = 9000-5000 = 4000, and T = 5
therefore R = (I * 100)/P*T = (4000 * 100)/5000*5 = 16%
Now,
P = 600, I =900-600 = 300 , R = 16%
T = (I * 100)/P*R = (300 *100)/600*16 = 3.125 year
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