Question

Rajiv deposited ₹8000 in a bank that earned him an interest of 15% per annum compounded annually.

If he received ₹121670 for how many years did, he invest the money.​

Answer 1

Answer:

He will get Rs.9261 after 3 years. Step-by-step explanation: Principal = Rs.8000. Rate of interest = 5% =0.05. Time = 3 years. Formula :.

Answer 2

Answer:

Step-by-step explanation:

Principal = Rs.8000

Rate of interest = 5% =0.05

Time = 3 years

Formula : A=P(1+r)^tA=P(1+r)

t

A = Amount

P = Principal

t = time

r = rate of interest

A=8000(1+0.05)^3A=8000(1+0.05)

3

A=Rs.9261

Hence He will get Rs.9261 after 3 years