find the time in years in which ₹12500 will produce to ₹3246.40 compound interest at 8% per annum interest compounded annually explain with full solution
Answers
Answered by
12
let the number of years be x then
12500(1+8/100)∧x=12500+3246.4
12500(108/100)∧x=15746.4
(27/25)∧x=15746.4/12500
(27/25)∧x=157464/125000
(27/25)∧x=19683/15625
(27/25)∧x=(27/25)∧3
x=3 years
12500(1+8/100)∧x=12500+3246.4
12500(108/100)∧x=15746.4
(27/25)∧x=15746.4/12500
(27/25)∧x=157464/125000
(27/25)∧x=19683/15625
(27/25)∧x=(27/25)∧3
x=3 years
Similar questions