in how many years will rupees 16,000 will amount to 17640 rupees if the rate compounded annually is 5% ?
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Answer:
P=16000 ,A=176400 ,T=2years
Let rate be R%
A=P(1+
100
R
)
T
17640=16000(1+
100
R
)
2
16000
17640
=(1+
100
R
)
2
=>(
40
42
)
2
=(1+
100
R
)
2
=>
40
42
=1+
100
R
=>
100
R
=
20
21
−1
=
20
1
=>R=
20
100
=5%
Hence, Rate%=5%pa
2 YEARS..
HOPE THIS HELPS YOU
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