Question

In what period of time will ₹ 12000 yield ₹ 3972 as compound interest at
10% per annum , if compounded on yearly basis ?

Answer 1

Step-by-step explanation:

compound interest p[(1+r/100)n-1]

3972 = 12000 [(1+10/100)n-1]

3912 = 12000 [(11/10)n-1 ]

3972/12000+1 = (11/10)n

1331/1000 = (11/10)n

(11/10)^3=(11/10)n

n = 3 years