Question

how to find time in compound intrest

Answer 1

STEP 1
The compound interest formula is given below:
compound interest formula

Where:

A is the total amount of money (including interest) after n years

P is the principal (the amount money borrowed or invested)

r is the interest rate (per year or per annum)

n is the loan or investment duration in years


STEP 2
Thus, let us substitute the values we have into the formula:
1152 = 800(1+0.2)^n

STEP 3
We can then proceed to solve the equation:
1152/800 = (1.2)^n
1.44 = (1.2)^n
1.44 = (1.2)^2

Thus, it takes two years for the compound interest to amount to Rs1152.

Answer 2

A=P(1+r/100)^t. where A= amount, P= principle, r= rate of interest, t= total time taken