Question

At what rate of percent p.a. will Rs. 450 amount on Rs. 512 in 2 years by compound interest ?​

Answer 1

Answer:

3 years

P = Rs. 450; A = Rs. 495; T = 2 years; I = A - P = 495 - 450 = 45

I=100PTR

R=PT100×I=450×2100×45=5%

Now take

P = Rs. 820; A = Rs. 943; R = 5%; T = ?I = A - P = 943 - 820 = Rs. 123.

I=100PTR

T=PR100×1=820×5100×123=3years

thanks