in how many years will rs 6750 amount to rs 8192 at 20/3 percent p.a. compouned annually?
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Answer:
Given :
P=6750,A=8192,r=6
3
2
=
3
20
Formula : A=P(1+
100
r
)
n
∴8192=6750(1+
3×100
20
)
n
⇒
6750
8192
=(
15
16
)
n
⇒
15×15×15×2
16×16×16×2
=(
15
16
)
n
⇒n=3
In 3 years Rs. 6750 amount to Rs. 8192 at 6
3
2
% rate compounded annually.
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