Mathematics
NULL
Medium
Question
Rs.8000 becomes Rs.9261 at 5% p.a. CI. Find the time.
A
4 years
B
6 years
C
2 years
D
3 years
✓ Official correct answer
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A
4 years
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B
6 years
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C
2 years
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D
3 years
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Explanation
8000 × (1.05)ⁿ = 9261 ⇒ (1.05)ⁿ = 1.157625 ⇒ n = 3 years.