Question

A sum of 12000 becomes 17280 at 20% per compound interest. Find the period​

Answer 1

Answer:

Let the period be n and principal be P

Amount at maturity= P(1+20/100)^n

17280=12000(1.2)^n

(1.2)^n=17280/12000= 1.44=(1.2)^2

Therefore n=2