Question

IN WHAT TIME RS.32000 WILL AMOUNT TO RS.35280 AT 5% P.A. COMPOUNDED ANUALLY​

Answer 1

Answer:

Step-by-step explanation:

P=32000

A=35280

Interest in the = 35280-32000=3280

R = 5%

By using compound interest formula

We get

3280 = 32000(1+5/100) raise to n

3280 = 32000(21/20)^n

n = 2

The required time is 2 years

Answer 2

It will take 2 years For Rs.32000 to becomes Rs.35280 at 5% compounded annually.

Step-by-step explanation:

Principal = Rs.32000

Amount = Rs.35280

Rate of interest = 5% = 0.05

Formula :  A=P(1+r)^t

Where A = Amount

P = Principal

r = rate of interest in decimals

t = time

Substitute the values in the formula :

$35280=32000(1+0.05)^t$

$\frac{35280}{32000}=(1+0.05)^t$

t=2

Hence It will take 2 years For Rs.32000 to becomes Rs.35280 at 5% compounded annually.

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