in what time will rs 5000 rs 6498 at 14 p.a compounded annually
Answers
Answered by
1
Answer:
1 year
Step-by-step explanation:
Given Rate of interest is r=8%=0.08
Principal Amount is A=5,000
Time is t years
Interest is compounded yearly twice ⟹n=2
Amount =P(1+
n
r
)
nt
=5000×(1+
2
0.08
)
2t
=5,408
(1.0816)
t
=
5000
5408
⟹t=1
Answered By Ambati Rayudu(Rithiesh)
Similar questions