Question

in what time rupees 800 amount to rupees 882 and the rate of 5% per annum compound annually

Answer 1

Heya ☺

Given that

A = ₹882

P = ₹800

R = 5 % p.a.

T = ?

Solution

When the interest is compounded annually

A = P(1+R/100)^n

=> 882 = 800(1+5/100)^n

=> 882/800 = (100+5/100)^n

=> 441/400 = (105/100)^n

=> (21/20)^2 = (21/20)^n

=> n = 2 years




Thanks

Answer 2

C = p(1+r/100)^n
882/800 = (1+5/100)^n
441/400 = (21/20)^n


N = 2 because 441/400 = (21/20)^2