Question

if a sum of rupees 40000 at compound interest of 5% per annum amounted to rupees 44100 find the time for which the money was invested

Answer 1

P - 40000
R - 5
T -?
A - 44100

A = P(1+R/100)power Time

44100 = 40000(1+5/100)power T

44100 = 40000(105/100)power T

44100/40000 = (105/100)power T

441/400 = (21/20)powerT

(21/20)power 2 = (21/20)powet T

2 = T
so, time = 2 years

Answer 2

P - 40000

R - 5

T -?

A - 44100

A = P(1+R/100)power Time

44100 = 40000(1+5/100)power T

44100 = 40000(105/100)power T

44100/40000 = (105/100)power T

441/400 = (21/20)powerT

(21/20)power 2 = (21/20)powet T

2 = T

so, time = 2 years