Answer:
It will take 5 yrs the sum of 5000 will take to reach Rs 8750 at the rate 15%
Step-by-step explanation:
T= ?
Amount = Rs 8750
R = 15%
P = Rs 5000
so
I = A-P
= 8750 - 5000
= Rs 3750
so
I = PTR/100
3750 = (5000*15*T)/100
or, 375000 = 75000*T
or, T = 375000/75000
so T = 5 yrs
