Question

how long will it take for 5000 to amount to 7000 if it is invested at 8% compounded continuously​

Answer 1

Question⤵️

How long will it take for 5000 to amount to 7000 if it is invested at 8% compounded continuously?

Answer⤵️

Given:-

Principal - Rs.5000

Amount - Rs.7000

Rate - 8% on 28 annum

To find:-

Time taken

Solution:-

$interest = (amount - principal) \\ = > (7000 - 5000) = 2000 \\ time(t) = \frac{100 \times i}{p \times r} \\ = > \frac{100 \times 2000}{5000 \times 28} \\ = > \frac{40}{28} = 1.42 \\ hence \: time \: 1.42 \: years \: annum$

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