Question

in what time will a sum of Rs8000 amounts to Rs9261 at 5% per annum compounded annually ?

Answer 1

P=8000
A=9261
R=5
SI=A-P
=9261-8000
=1261
SI=P*R*T/100
R=SI*100/P*R
=126100/8000*5
=126100/40000
=1261/400
=315.25/100
=3.15 yrs