Question

In what time will a sum of rs. 3750 at 20% per annum compounded annually amount to rs 6480?

Answer 1

$a = p{(1 + \frac{r}{100}) }^{t}$

$6480 = 3750 {(1 + \frac{20}{100}) }^{t}$

$\frac{6480}{3750} = {(1 + \frac{1}{5}) }^{t} \\ \\ divide \: by \: 30 \\ \\ \frac{216}{125} = {( \frac{6}{5}) }^{t}$

$( { \frac{6}{5} })^{3} =( { \frac{6}{5} })^{t}$

$t = 3$

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Answer 2

Answer:

In 3 years a sum of rs. 3750 at 20% per annum compounded annually amount to rs 6480?

Explanation :

According to the problem,

Sum =3750

Rate = 20%

Amount = 6480

On applying the formula of amount we get,

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

On filling the values in the formula from the above,

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

On simplifying we get ,

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

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

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

=> n = 3 years

The answer is 3 years.