in what time will rs 8000 amount to rs 8820 at 5%p.a. compounded annually
Answers
Answered by
6
P=8000
R.I=5%p.a
T=?
A=8820
S.I=8820-8000
=820
A=P(1+R/100)^n
8820=8000(1+5/100)^n
8820/8000=(105/100)^n
441/400=(21/20)^n
(21/20)^2=(21/20)^n
(21/20)^n=(21/20)^n
n=2years
ANS=2years
R.I=5%p.a
T=?
A=8820
S.I=8820-8000
=820
A=P(1+R/100)^n
8820=8000(1+5/100)^n
8820/8000=(105/100)^n
441/400=(21/20)^n
(21/20)^2=(21/20)^n
(21/20)^n=(21/20)^n
n=2years
ANS=2years
Similar questions