Question

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

Answer 1

Explanation:

9216=8000(1+5/100)^t

9216/8000=(105/100)^t

(21/20)^3 =(21/20)^t

Therefore, t=3 years

Ans:-So the time is 3 years

Answer 2

Answer:

answer is 3

Explanation:

9216=8000(1+5/100)^t

9216/8000=(105/100)^t

(21/20)^3 =(21/20)^t

Therefore, t=3 years

Ans:-So the time is 3 years