Question

I invested Rs 20,000 in a fixed deposit which will earn an interest at 9% per annum compound interest. In how many years will I get an amount of Rs 23762?
pls answer quick with explaination

Answer 1

Answer:

2 years

Step-by-step explanation:

first year

20000/100*9

21800

second year

21800/100*9

23762

Answer 2

Answer:

23762 -20,000=3762

T=3762×100/20,000×9

T=2.09