find the timed in which he sum RS 2560 will raise to RS 2890 at 25/4% p.A rat. compounded annually
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Answer:
2 Years
Step-by-step explanation:
Principle = Rs 2560
Amount with interest = 2890
Rate of interest = 25/4 % Per annum
Time = n Years
A = P (1 + R/100)ⁿ
=> 2890 = 2560 (1 + 25/400)ⁿ
=> 289 = 256 ( 1.0625)ⁿ
=> ( 1.0625)ⁿ = (289/256)
=> ( 1.0625)ⁿ = (17/16)²
=> ( 1.0625)ⁿ = (1.0625)²
=> n = 2
Time = 2 Years
in 2 years RS 2560 will raise to RS 2890 at 25/4% p.A
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