Mohan invested a sum of 12500 at 12% per annum compound interest. He received an amount of 15680 after x years. Then what is the value of x
Answers
Answered by
11
Answer:
2 years
Step-by-step explanation:
A = P ( 1 + r ) ^n
A = amount = 15680
P = principle = 12500
r = rate in decimal = 12% = 12/100 = 0.12
n = years = ?
A = P ( 1 + r ) ^ n
=> 15680 = 12500 ( 1 + 0.12 ) ^ n
=> 15680 = 12500 ( 1.12 ) ^n
=> 15680/12500 = ( 1.12 )^ n
=> 1.2544 = ( 1.12 )^ n
=> ( 1.12 )^ 2 = ( 1.12 )^n
=> n = 2
Answered by
1
Answer:
n=2
Step-by-step explanation:
answer is this for all of you
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