Exams › SSC CGL (Prelims) › General

A sum of Rs 1,25,000 is invested at 12% compound interest per annum. After how many years will it amount to Rs 1,75,616?

1. 2 years
2. 3 years
3. 4 years
4. 5 years

Correct answer: 3 years

Solution

Using \(A=P(1+r/100)^n\), we get \(175616 = 125000(1.12)^n\). Since \(125000 \times 1.12^3 = 175616\), the time is 3 years.

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