in what time will rupees 5400 amount to rupees 6773. 76 at 12% per annum compound interset .
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the time taken is 2 years
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Answer:
Time = 2 years
Step-by-step explanation:
Principal = Rs 5400
Interest rate = 12%
Amount Received = Rs 6773.76
We have to find the time :
We know,
Amount = P ( 1 + r ) ⁿ
6773.76 = 5400 ( 1 + 0.12)ⁿ
6773.76 = 5400 ( 1. 12 ) ⁿ
6773.76 / 5400 = 1. 12 ⁿ
1. 12 ⁿ = 1.2544
Taking log both the sides ,
log 1. 12 ⁿ = log 1.2544
n log 1. 12 = log 1.2544
n = log 1.2544 ÷ log 1. 12
n = 2
Hence,
Time = 2 years
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