Question

An amount of Rs 6480 has to be returned for a sum of Rs 5120 borrowed at 12 1/2% Comounded annually. Find the time after which this amount is returned.

Answer 1

Answer:

Let the time be

A=6480

R=25/2%

P=5120

therefore A=P (1+R BY 100)

6480=5120 (1+25/2/100)

81/64=(9/8)

(9/8)=(9/8)

therefore =2