Question

- In how many years will a sum of 3200 com-
pounded quarterly at the rate of 50% per annum
amount to 4050?​

Answer 1

Answer:

2 years

Step-by-step explanation:

Principal (P) = Rs.3200

Amount (A) = Rs.4050

Rate (R) = 50%

Let the time be T.

A = P (1 + R/100)^T

4050 = 3200 (1 + 50/400)^T

4050 = 3200 (1 + 1/8)^T

4050/3200 = (9/8)^T

81/64 = (9/8)^T

(9/8)^2 = (9/8)^T

Time = 2 years