Question

If Rs. 5000 will give an interest of Rs. 2000 at 8% per annum, find the time period​

Answer 1

Answer:

Explanation:

2=(1+.1)^y where y is the amount of time in years.

So:

2=(1.1)^y

log 2=log 1.1^y

=y log l.1

y=log 2/ log 1.1

=7.27254 years …………………