Question

in how many years will RS 12500 amount to rs 20000 if invested at 8℅ per annum interest. ANS=7 YEARS 6 MONTHS
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Answer 1

Step-by-step explanation:

P= 12500

A= 20000

r= 8%

A = P( 1+rn/100)

20000 = 12500(1+ 8n/100)

20000/12500 = 1+8n/100

8/5 = 1+8n/100

8/5 -1 = 8n/100

2/5 = 8n/100

cross multiplication.....

2*100 = 5*8n

200 = 40n

200/40 = n

n=5

Thus , the period is 5 year.