Question

in what time will a sum of rs 3750 at 20% p.a compounded annually amount to rs 6480

Answer 1

Heya friend,

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A = P(1+R/100)^n

=> 6,480 = 3,750(1+20/100)^n

=> 6,480/3,750 = (100+20/100)^n

=> 216/125 = (120/100)^n

=> (6/5)^3 = (6/5)^n

=> n = 3 years

Hence, in 3 years a sum of ₹3,750 at 20 % per annum compounded annually.

Thanks

With regards@

Tanisha

Answer 2

Hello,
we have:
P(principle)=rs 3750;
A(amount)=rs 6480;
R(rate)=20% p.a
n=time

Then:
$A=P(1+ \frac{R}{100} ) ^{n}$;
$6480=3750(1+ \frac{20}{100} ) ^{n}$;
$\frac{6480}{3750} =( \frac{6}{5}) ^{n}$;
$\frac{216}{125} =( \frac{6}{5}) ^{n}$;
$(\frac{6}{5})^{3} =( \frac{6}{5}) ^{n}$;
n=3

Hence,the required teme is 3 years.
bye :-)