Question

In what time will Rs 1760 amount to Rs. 2142 at 4% p.a compound interest?

Answer 1

Amount=P(1+r/100)^t

Hence

2142=1760(1+4/100)^t

2142/1760=(26/25)^t

1071/885=(26/25)^t

357/295=(26/25)^t