Question

₹16,000 at 10% p.a. for 5/2 years​

Answer 1

Answer:

P=Rs.16,000

A

n

=Rs.18,522

i=10×1/2%=5%=0.05

n=?

We have A

n

=P(1+i)

n

18,522=16,000(1+0.05)

n

18,522/16,000=(1.05)

n

(1.157625)=(1.05)

n

(1.05)

3

=(1.05)

n

n=3 Therefore time period of investment is three half years i.e., 1.5 years.

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