Question

in how many years will rs.8500 amounts to rs.14688 at 20%per annum compound interest​

Answer 1

Step-by-step explanation:

p=8500,A=14688, rate=20℅, n=?

formula

A=p[ 1+r÷100]^n

14688=8500[1+20÷100]^ n

hope you can solve it further...if not then let me know

Answer 2

Time taken for Rs. 8500 amounts to Rs. 14688 at 20 % per annum compound interest is 3.64 years

Step-by-step explanation:

Given:

Principal P = Rs. 8500

Amount A = Rs. 14688

Rate of interest R = 20% p.a

To find: Number of years taken to convert Rs. 8500 amounts to Rs. 14688 at 20 % per annum

Formula used : Amount = Principal + Simple Interest

Solution:

We know that ,

Amount = Principal + Simple Interest

Simple Interest = PRT / 100

Now calculate the time taken ,

Sub the values in the formula , then we get

⇒ 14688 = 8500 + SI

⇒ 14688 - 8500 = SI

⇒ 6188 = SI

Simple Interest = 6188

SI = PRT /100

6188 = (8500)(20)(T) /100

6188 = 170000T / 100

6188(100) = 170000 T

T = 618800 / 170000

T = 3.64

Final answer:

Time taken for Rs. 8500 amounts to Rs. 14688 at 20 % per annum compound interest is 3.64 years

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