Question

In what time will ₹1600 amount to ₹ 2025 at 12.5% per annum compounded annually?

Answer 1

CI=2025
P=1600
R=12.5%
2025=1600(1+12.5÷100)power t
2025÷1600=(1+125÷1000)power t
81÷64=(1125÷1000)power t
81÷64=(9÷8)power t
(9÷8)power 2=(9÷8)power t
t=2