Answer:
3 years
Step-by-step explanation:
We would like to calculate in how much time Rs 1200 will become Rs 1632 at the rate of 12% per annum. Firstly we know that the SI can be calculated by ,
[tex]\longrightarrow \langle\pink{{\boldsymbol{ SI =\dfrac{Principal \times Rate \times Time }{100}}}}}\rangle[/tex]
Also the total amount is calculated by adding SI and the initial amount ; as ,
[tex]\longrightarrow \pink{{\boldsymbol{ Amount= Principal + SI }}}[/tex]
Firstly lets find SI as ,
[tex]\longrightarrow SI = Rs 1632-Rs1200\\ [/tex]
[tex]\longrightarrow SI = Rs 432 [/tex]
Using the first formula stated above, we have;
[tex]\longrightarrow Rs 432=\dfrac{(Rs 1200)(12)(t)}{100}\\ [/tex]
[tex]\longrightarrow t =\dfrac{ 432\times 100}{1200\times 12} yrs \\[/tex]
Simplify,
[tex]\longrightarrow \boldsymbol{\underline{\underline{{ time = 3\ years }}}} [/tex]
And we are done!
