Question

in how many years will 5000 amount change to Rupees 5202 at 2% p.a interest compounded annually

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Answer 1

Answer:

It is given that 

Principal (P) = 5000

Rate of interest (r) = 6% p.a.

Period (n) = 2 years 

We Know that 

Amount = P(1+r/100)n

Substituting the values 

=5000(1+6/100)2

By further calculation 

= 5000×53/50×53/50

= 5618

Here 

CI = A - P

Substituting the values 

=5618−5000

= 618

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Answer 2

Answer:

1  yrs

Step-by-step explanation:

Principle = 5000

Amount = 5202

Rate of interest = 2%

Time = n

$Amt = p(1+i)^n$

$5202 = 5000(1+0.02)^n$

$5202 = 5000(1.02)^n$

$1.0404 = 1.02^n$

$1.02^1 = 1.02^n$

N = 1