Question

In how much time will a sum of ₹1600 amount to ₹1852. 20 at 5% per annum compound interest. ​

Answer 1

Answer:

amount at the end of 1st year:

1600 + 5% = 1680

amount at the end of 2nd year:

1680 + 5% = 1764

amount at the end of 3rd year:

1764 + 5% = 1852.2