Question

In what time rs 6000 amount to rs 6615 at 5% per annum compound annually

Answer 1

Answer:

Let the time be x.

6615=6000(1+5/100)ˣ

6615=6000*(105/100)ˣ

6615/6000=(21/20)ˣ

441/400=(21/20)ˣ

(21/20)²=(21/20)ˣ

therefore, x=2

Time= 2 years

Answer 2

In 2 years Rs 6000 amount to rs 6615 at 5% per annum compound annually

Step-by-step explanation:

Principal = Rs.6000

Amount = Rs.6615

Rate of interest = 5%

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

$6615 = 6000 (1+0.05)^t$

$\frac{6615}{6000}= (1+0.05)^t$

$\frac{6615}{6000}= (1.05)^t$

$(1.05)^2= (1.05)^t$

On comparing  t = 2

Hence In 2 years Rs 6000 amount to rs 6615 at 5% per annum compound annually

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In how many years will Rs 6000 amount at Rs 7986 at 10% per annum compounded annually

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