Question

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

Answer 1

let the time taken=t
then

$8000 {(1 + \frac{5}{100}) }^{t} = 9261$
${(1 + \frac{1}{20} )}^{t} = \frac{9261}{8000}$
${( \frac{21}{20} )}^{t} = { (\frac{21}{20} )}^{3}$
then t=3..................(ans)

Answer 2

Answer:

t=3 ans

then t=3..................(ans)