Question

If the compund interest is 5% every year then in how many years 1200 rupees will be 1800 rupees

Answer 1

Answer: The time period is 10 Years

Step-by-step explanation:

Given,

Principal(P)=1200

Amount(A)=1800

Rate of interest(R)=5%.

We have to find the time

$Simple Interest=\frac{p*n*r}{100}$

Simple Interest=Amount-Principal

=1800-1200

=600

Hence,

$600=\frac{1200*n*5}{100}$

=$\frac{600*100}{1200*5}=n$

n=$\frac{100}{2*5}$

n=100/10

n=10

Therefore the time (n) is 10 Years