INTRODUCTION TO MATHEMATICAL MODELLING 309
File Name : C:\Computer Station\Maths-IX\Chapter\Appendix\Appendix–2 (03–01–2006) PM65
So, I = 1200n (1)
gives the relationship between the number of years and interest, if Rs 15000 is invested
at an annual interest rate of 8%.
We have to find the period in which the interest earned is Rs 4000.
Putting I = 4000 in (1), we have
4000 = 1200n (2)
Step 2 : Solution of the problem : Solving Equation (2), we get
n =