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In what time will the sum of Rs. 1875 yi...

In what time will the sum of Rs. 1875 yield a compound interest of Rs. 477, at 12% per annum, compounded annually ?

A

2 years

B

1 years

C

3 years

D

`1(1)/(2)` years

Text Solution

Verified by Experts

The correct Answer is:
A
(i) Use `C.I.=P(1+(R )/(100))^(N)-P` and evaluate N.
(ii) C.I. =Rs. 477, P=Rs. 1875, R=12%, find n.
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