Question

3. In how many years will 3375 amount to 4096 at 6 2/3 %
where interest is compounded annually:​

Answer 1

S.I = 4096-3375 = 721

P= 3375

R.O.I = 6⅔ p.a

We know S. I = PTR/100

Time = 100×721×3 / 3375×6×2

ans 5 years 3 months