Question

find the time in which a sum of Rs 4000amounts to Rs 4410 at 5% per annum , if the interest is compounded annually

Answer 1

P=4000
A=4410
R=5%
a =p(1+r/100)ń
4410=4000(1+5/100)n
4410/4000=(1+1/20)n
441/400=(21/20)n
(21/20)^2=21/20^n
therefore n= 2yrs