Question

In what time will ₹12000 amount to ₹13230 at 5%p.a. compounded anually

Answer 1

ʜᴏᴘᴇ ɪɪᴛ ᴡɪʟʟ ʜᴇʟᴘ ʏᴏᴜ.

ᴍᴀʀᴋ ᴀꜱ ʙʀᴀɪɴʟɪꜱᴛ.

Answer 2

Answer:

A = P(1+R by 100 )n

13,230 = 12,000(1+5 by 100)n

(1.05)n = 13,230 by 12,000

(1.05)n = 1.1025

(1.05)n = (1.05)2

On comparing both the sides , we get: n = 2

Thus, the value of n is two years.