Question

In how much time will a sum of
1,600 amount to
1,852.20 at 5% per annum compound interesu​

Answer 1

Answer:

3 years....

Step-by-step explanation:

Hi....

Amount =1,852.20

Principal =1,600

R=5%p.a.

n=???

We know A=P(1+R/100)^n

after putting values.....

we have...

1,852.20=1,600(1+5/100)^n

1,852.20/1,600=(1+1/20)^n

after reducing...we get ....

9261/8000=(21/20)^n

(21/20)^3=(21/20)^n

ON COMPARING BOTH SIDES.,

n=3.

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