Question

In what time will a sum of rs 25000 amount to rs 33275 at 10% pa compounded annually

Answer 1

Answer:  3 YEARS

Step-by-step explanation:

AMOUNT  = 33275/-

PRINCIPAL = 25000/-

COMPOUND INTEREST FORMULA

A=P (1 +  (R/100) )TO THE POWER "N"

WE HAVE TO FIND "N"

ATQ,  33275 = 25000 (1 + (10/100)) TO THE POWER N

OR 33275/25000 = (11/10) TO THE POWER N

OR  (DIVIDING BY 25) 1331/1000 = (11/10) TO THE POWER N

OR 1331 (11 X 11 X 11) / 1000 (10X10X10)  = (11/10) TO THE POWER N

OR VALUE OF "N = 3 YEARS"

Answer 2

I = P R N /100

I = Rs. 33275 - Rs. 25000 = Rs. 8275.

P = Rs. 25000

R = 10%

N = ?

8275 = 25000 x 10 x N /100

N = 8275 x 100 / 25000 x 10

N =827500 / 250000

N = 3.31

HENCE THE TIME REQUIRED WILL BE 3.31 YEARS.