Question

In what time will sum of Rs 3750 at 20 percent per annum compounded anually amount to Rs 6480

Answer 1

Heya friend,

Given that

P = ₹3,750

A = ₹6,480

R = 20 % p.a.

Solution

A = P(1+R/100)^ n

=> 6,480 = 3,750(1+20/100)^n

=> 6,480/3,750 = (100+20/100)^n

=> 216/125 = (120/100)^n

=> (6/5)^3 = (6/5)^n

=> n = 3 years

Hence , the time is 3 years.









Thanks

With regards@

Tanisha