Question

Calculate the time to be taken for rs 625000 at 12% compounded annually will amount to rs 784000.

Answer 1

Answer:

ANSWER IS 2 YEARS .

Step-by-step explanation:

AMOUNT GIVEN = RS. 784000

PRINCIPAL GIVEN = RS. 625000

RATE = 12% COMPOUNDED ANNUALLY

AMOUNT FORMULA = P ( 1 + R/100) ^ n ( TIME )

SUBSTITUTING THE VALUES,

RS. 784000 = 625000 * (1 + 12/100 ) ^N

784000/625000  =( 1 + 12/100 ) ^ N

784/625 =( 1 + 12/100)^N

( 28/25 ) ^2 = (112/100 ) ^N

(28/25)² = (28/25)^ N

ACCORDING TO THE LAW OF ALGEBRA ,

M^N = M^ Z

THEN , N = Z

SO, N = Z

=( 28/25)² = (28/25)²

N= 2

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