Question

in what time will 1500 yeild to 3346.60 as compound interest at 8% per annum compounded annually also find the time in years in which 12500 will produce 3346.40 as compound interest at 8% PA compounded annually.
Please answer fast ​

Answer 1

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$\huge\bf{Solution:-}$

Let the number of years be x then

12500(1+8/100)∧x=12500+3246.4

12500(108/100)∧x=15746.4

(27/25)∧x=15746.4/12500

(27/25)∧x=157464/125000

(27/25)∧x=19683/15625

(27/25)∧x=(27/25)∧3

x=3 years

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