Question

In how many years rs5000 amount to rs6374 per at 8% papa compounded annually.

Answer 1

Answer :

P= 5000

r= 8%

Amount= 6374

A= P[(1+r/100)]^t

6374=5000×(1+8/100)^t

6374/5000= (1.08)^t

1.28=1.08^t

T= 1