Question

Amir invested a sum of Rs 80000 at 5%compound interest, compounded annually.Calculate the number of years he invested for him to earn an interest of Rs 12610

Answer 1

Answer:3 years

Step-by-step explanation:as we know

CI: P(1+R/100)^not

Ci:80000(1+5/100)^3

Ci:92610

92610-80000=12610

Thus it took him 3 years to get anew interest of rs.12610