Answer:
It would take 5 months long to receive an amount of 61,350.
Step-by-step explanation:
P = Rs 60,000
R = 4.5%
T = ?
A = Rs 61,350
so
I = A-P
or, I = Rs 61,350 - Rs 60,000
so, I = Rs 1,350
so
T = (I×100)/P×R
T = (1350×100)/(60,000×4.5)
or, T = 135000/270000
so, T = 0.5 years = 5 months
