find the number of years after which a sum of rupess 50000 will become rs 55125 at the compound intrest rate of 5%
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Answer:
Given
Sum(p)= 50000rupees.
Amount= 55125rupees
Rate of interest= 5%
Time=?
FORMULAE USED
{\boxed{\rm{\blue{A=P(1+\dfrac{R}{100})^n}}}}
A=P(1+
100
R
)
n
Where,
A= Amount
P= Sum
R= Rate of Interest
n= Time.
\implies\rm\blue{A=P(1+\dfrac{R}{100})^n}⟹A=P(1+
100
R
)
n
\implies\rm\blue{55125=50000({1+\frac{5}{100})^n}}⟹55125=50000(1+
100
5
)
n
\implies\rm\blue{\dfrac{55125}{50000}=\dfrac{105}{100}^n}⟹
50000
55125
=
100
105
n
\implies\rm\blue{\dfrac{105}{100}^2=\dfrac{105}{100}^n}⟹
100
105
2
=
100
105
n
\implies\rm\blue{n=2}⟹n=2
Hence, The time will be 2 Years.
Step-by-step explanation:
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