Question

In what time will Rs 8192 amount to Rs 11,664 at 12.5% p.a compound interest?
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Answer 1

Step-by-step explanation:

Compound interest

=

$x = p(1 + \frac{r}{n} )^{nt}$

X=Amount

p=principal amount

r=rate of interest

n=time period of compound interest

t=time (in years)

$11664 = 8192(1 + \frac{12.5}{1200} ) ^{12x}$

$11664 = 8192( \frac{1212.5}{1200}) ^{12x}$

$11664 = (\frac{1024 \times 1212.5}{150} ) ^{12x}$

$11664 = ( \frac{512 \times 1212.5}{75} {)}^{12 x}$

$11664 = ( \frac{512 \times 242.5}{15} {)}^{12x}$

$11664 = ( \frac{100.4 \times 242.5}{3} {)}^{12x}$

$11664 = ( \frac{24,347}{3} {)}^{12x}$

$11664 = 8115.6 ^{12x}$

$\sqrt[12]{11664} = 8115.6 ^{x}$

$\sqrt[x]{2.18225} = 8115.6$

x=11.53517