Question

In what time will ₹ 8000 lent at C. I. at 20% amount to ₹ 8820; the interest being compound quarterly.

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Answer 1

Answer:

Step-by-step explanation:

Interest is being compound quarterly

hence    r =  20%

                =  5%

We know,

amount = Principal ( 1 +  r/100 )^n

8820 = 8000( 1 + 5/100 )^n

8820/8000 = (21/20)^n

441/400 = (21/20)^n

(21/20)^2 = (21/20)^n

n = 2

Since interest compound quarterly so n = 2×4

                                                                   =8

                 

Answer 2

Answer:

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