Question

find the number of years after which a sum of Rs 3500 will become Rs 4390.40 at the compound rate of 12%​

Answer 1

Answer:

2 years

Step-by-step explanation:

sum 3500 will become 4390.40

Difference 4390.40-3500=890.4

CI for 1 year 12% of 3500=420

CI for 2nd year 12% of (3500+420)=3920

12% of 3920=470.4

CI total=420+470.4=>890.4