Question

In how many years will ₹7320 amount to ₹13,176 at the rate of 8% p.a.?​

Answer 1

Interest = 13176 - 7320 = 5856 Rs.

According to the question :

$5856 = \frac{7320 \times 8 \times t}{100} \\ \\ = > t = \frac{ 5856 \times 100}{7320 \times 8} = \frac{7320}{730} = 10$

So, the time will be 10 years.