In what time will ₹12000 amount to ₹13230 at 5%p.a. compounded anually
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ʜᴏᴘᴇ ɪɪᴛ ᴡɪʟʟ ʜᴇʟᴘ ʏᴏᴜ.
ᴍᴀʀᴋ ᴀꜱ ʙʀᴀɪɴʟɪꜱᴛ.
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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.
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