Question

12. In what time will *15625 amount to 17576 at 4% per annum compound interest?
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Answer 1

Answer:

t=3 years

Step-by-step explanation:

Formula for calculating the compound interest = A = P (1 + r/100)t

Where, A = Amount after ‘t’ time

P = principal amount

r = rate of compound interest

t = time

Now, according to the question,

17576 = 15625 (1 + 4/100)t

⇒ 17576/15625 = (26/25)t

⇒ (26/25)t = (26/25)3

⇒ t = 3 years

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