Question

in how many years will the amount of rs 1200 double itself under compound interest system of 4% p.a

Answer 1

It will definitely need 25 years I will explain it

4/100×1200 = 48rs per year so let's find how any year will need

1200÷48 = 25 years

Answer 2

The the amount of rs 1200 double itself under compound interest system of 4% p.a in 18 years

Step-by-step explanation:

Principal  = Rs.1200

Amount = 2(1200)=2400

Rate of interest = 4% =0.04

Formula : $A=P(1+r)^t$

$2400=1200(1+0.04)^t$

$\frac{2400}{1200}=(1.04)^t$

t=17.67

Hence The the amount of rs 1200 double itself under compound interest system of 4% p.a in 18 years

#Learn more:

A sum of money given at compound interest doubles itself in 4 years. in how many years will the amount be eight times?​

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