Question

In how many years will ₹125000 amount to ₹148877, if the rate of interest is 6%p.a. Compound annually? ​

Answer 1

Given Data :

●  Principal = ₹ 125000

●  Amount = ₹ 148877

●  Rate of Interest = 6%

Formula to be used :

$\clubsuit\;\;\mathrm{Amount = Principal\left(1 + \dfrac{Rate\;of\;Interest}{100}\right)^{Years}}$

Substituting all the values in the Formula :

$\mathrm{\longrightarrow\;148877 = 125000\left(1 + \dfrac{6}{100}\right)^{Years}}$

$\mathrm{\longrightarrow\;\left(\dfrac{100 + 6}{100}\right)^{Years} = \dfrac{148877}{125000}}$

$\mathrm{\longrightarrow\;\left(\dfrac{106}{100}\right)^{Years} = \dfrac{148877}{125000}}$

$\mathrm{\longrightarrow\;\left(\dfrac{53}{50}\right)^{Years} = \dfrac{148877}{125000}}$

$\mathrm{\longrightarrow\;\left(\dfrac{53}{50}\right)^{Years} = \dfrac{53^3}{50^3}}$

$\mathrm{\longrightarrow\;\left(\dfrac{53}{50}\right)^{Years} = \left(\dfrac{53}{50}\right)^3}$

Comparing on both sides :

●  Number of Years = 3

Answer 2

Step-by-step explanation:

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