Question

Find the time taken for a sum of 8000 to amount 9261 if the rate of interest is 5% per annum
compounded annually​

Answer 1

Answer:

3 years

Step-by-step explanation:

Amount=9261

Rate=5%

principle=8000

C.I=9261

Now,C.I=P(1+R/100)^n

9261/8000=(105/100)^n

21/20=(21/20)^n

n=3 years