Question

At what rate per cent per anum will ₹81,920 amount to ₹ 98,260 at 6.5%p.a. compounded annually

Answer 1

Answer:

TIME = 3YEARS

STEP BY STEP EXPLANATION

GIVEN

•PRINCIPAL= 81920

• AMOUNT = 98260

• RATE= 6¼ ( IN PROPER FRACTION) = 25/4

TO FIND

T= ?

Formula Used

A = P [ 1 + R/100] t

Now,

98260 = 81920 [ 1 + 25/4×100] t

98260/81920 =[16+1/16] t

(17³/16³) = (17/16)

(17/16)³ = (17/16)

3 = Time

Time = 3 years

Step-by-step explanation:

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