Question

A sum of ₹2000 becomes ₹2315.25 after some time 5%per annum at compound interest. Find the time in years

Answer 1

Hєч mαtє✌✌

hєrє íѕ ur αnѕwєr ✍✍

Let, move to ur Question -----

ɢɪᴠᴇɴ -----

ᴩ = ₹2000

ʀ = 5%

T = ???

A = 2315.25

We know that ,

A = P ( 1 + i)^t

2315.25 = 2000 ( 1+ 0.05 ) ^t

2315.25 = 2000 ( 1.05)^t

2315.35 /2000 = (1.05)^t

1.157625 = 1.05^t

Now we know that when we do (1.05)^3 = 1.157625

so the answer is 3 years

hope it helps u