Question

In what time ₹5400 amount to ₹6773.76 at 12% per annum compounded annually.

Answer 1

A= p(1+r)^n
6773.76= 5400(1+0.12)^n
1.12^n=6773.76/5400=1.2544
applying logs,
n log (1.12)= log(1.2544)
n will be 2

Answer 2

Answer:

Time taken is 2 years.

Step-by-step explanation:

Given : ₹5400 amount to ₹6773.76 at 12% per annum compounded annually.

To find : In what time?        

Solution :

Using compound interest formula,

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

Where A is the amount  A=6773.76

P is the principle P=5400    

r is the rate r=12%=0.12

t is the time t= ?

Substitute the value,

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

$6773.76=(5400)(1+0.12)^t$

$1.2544=1.12^t$

$\log 1.2544=t\log 1.12$

$0.098=t(0.049)$

$0.098=t(0.049)$

$t=2$

Therefore, Time taken is 2 years.