In how many years will a sum of Rs 320 amount...

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In how many years will a sum of Rs. 320 amount to Rs. 405 if interest is compounded at 12.5% per annum?

A. 2 years

B. 1 year

C. $$2\frac{1}{2}{\text{ years}}$$

D. $$1\frac{1}{2}{\text{ years}}$$

Answer: Option A

Solution (By Examveda Team)

\[\begin{array}{*{20}{c}} {320}&:&{405} \\ {\sqrt {64} }&:&{\sqrt {81} } \\ 8&:&9 \end{array}\]
$$\eqalign{ & 12\frac{1}{2}\% \to \frac{1}{8} \cr & {\text{In one year}} = 8:9 \cr & {\text{Time}} = 2{\text{ years}} \cr} $$

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