Question

In how many years will rupees 7500 amount to rupees 9408 12% per annum interest compounded annually

Answer 1

Answer:

Principal =Rs.7500

Time =2 years

Rate =4%

A=P(1+100R)T

A=7500(1+1004)2

A=100×1007500×104×104

A=Rs.8112

Answer 2

Answer:

Here.

P=7500

CA=9408

R=12%

T=?

NOW.

CA=(1+R/100)^T

9408=7500(1+12/100)^T

9408/7500=(120/100) ^T TAKING LCM

1.44=1.2^T

(1.2)^2=1.2^T (CUTTING THE 1.2 FROM BOTH SIDE)

2=T

THEREFORE,THE TIME IS 2 YEAR