Question

in what time will ₹15625 amount to ₹17576 at 4% per annum compound intrest?

Answer 1

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Solution :—
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Given,

Principal (P) = ₹ 15625

Amount (A) = ₹ 17576

Rate (R) = 4% p.a.

Let the time be T years.

We know that

$\mathsf{A = P \times (1 + \frac{R}{100} ) {}^{T}}$

$\mathsf{ = > 17576 = 15625 \times (1 + \frac{4}{100} ) {}^{T} }$

$\mathsf { = > \frac{17576}{15625} = ( \frac{104}{100} ) {}^{T}}$

$\mathsf{ = > ( \frac{26}{25} ) {}^{3} = ( \frac{26}{25} ) {}^{T}}$

=> T = 3

•°• The time is 3 years.

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