Question

After what time will rupee 5000 yield rupee 624.32 as compound interest at 4%p. a compounded annually​

Answer 1

Answer:

Answer is 546545441088653785

Answer 2

Answer:

3 years

Step-by-step explanation:

Given, P = 5000rs , R = 4% , CI = 624.32rs , n = ?

A = P + I = 5000 + 624.32 = 5624.32

A = P ( 1 + r/100 )^n

=> 5624.32 = 5000 ( 1 + 4/100 )^n

=> 5624.32 = 5000 ( 104/100 )^n

=> 5624.32 = 5000 ( 26/25 )^n

The above satisfies only when n = 3

.•. required time = 3 years