Question

In how many years 12000 amount to17,280 at 20 percent per Annum compound interest

Answer 1

Answer:

p(1+r/100)^2=17280……i

p(1+r/100)^3=20736…..ii

doing ii/i, we get

1+r/100=1.2=>r=20

now putting value of r=20in i, we get

p(120/100)^2=17280

=>p=12000

there fore, time=1.75years

total amount=12000(120/100)^1.75=16510.05

Step-by-step explanation:

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